Quebec · NOI
Trustee's Report to the Creditors on its Preliminary Administration
Court officer report · 7 January 2021
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- financial positionnote: Assets shown as nil ("-"); deficit before professional fees of $16,525,528; Trustee estimates no proceeds available for distribution to unsecured creditors as the Company has no assets in its estate available for realization · page: 2 · as at: 2020-12-08 · basis: Preliminary Statement of Affairs, estimated realization value, unaudited · scope: 12542099 Canada Inc. (bankrupt entity only) · currency: CAD · total assets: 0 · total liabilities: 16525528
- unsecured creditorsnote: Estimated liabilities owed to debenture holders, includes principal and accrued interest as of October 31, 2020; estimated (unaudited) figure per Trustee's preliminary Statement of Affairs · page: 2 · as of: 2020-10-31 · basis: Statement of Affairs as of December 8, 2020 · amount: 15370257 · debtor: 12542099 Canada Inc. · creditor: Debenture holders · currency: CAD
- unsecured creditorsnote: Estimated liabilities per Tidal's accounts payable as of the filing of the Notice of Intention (July 30, 2020); estimated (unaudited) figure per Trustee's preliminary Statement of Affairs · page: 2 · as of: 2020-07-30 · basis: Statement of Affairs as of December 8, 2020 · amount: 1155271 · debtor: 12542099 Canada Inc. · creditor: Trade creditors · currency: CAD
- closing confirmedscope: the transactions contemplated by the Share Purchase Agreement · outcome: completed · purchaser: 12464497 Canada Inc · date basis: unstated · approval order date: 2020-11-20
- purchaser12464497 Canada Inc
- recovery outcomeentries: basis: estimated · quote: The Trustee estimates that there will not be any proceeds available for distribution to unsecured creditors as the Company has no assets in its estate available for realization. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- sale outcometext: the Transaction closed and the Company was deemed bankrupt · scope: whole_business · status: closed