Saskatchewan · NOI
Form 40 Report of Trustee on Proposal
Court officer report · 4 December 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- financial positionnote: Per Statement of Affairs asset components ($000's): Cash on Hand at Oct 23, 2020: 12; Accounts Receivable: 399; Inventory: 89; Equipment: 130; Furniture: 10 (total 640); Estimated Realization values: Cash 12, AR 119, Inventory 89, Equipment 130, Furniture 10 (total 360). 'The above amounts are subject to certain post filing costs, realization costs and professional fees.' Liabilities per Statement of Affairs: BLA Creditors 168,944; Secured Creditors 976,849; Unsecured Creditors 562,794 (total 1,708,587); as 'Filed as at November 12, 2020': BLA Creditors 139,575; Secured Creditors 700,000; Unsecured Creditors 653,294 (total 1,492,869). · as at: 2020-10-23 · basis: Per Statement of Affairs (debtor's declared position); Trustee also states an Estimated Realization value and a later 'Filed as at November 12, 2020' liabilities figure · scope: 101100090 Saskatchewan Ltd., single entity · currency: CAD · total assets: 640000 · total liabilities: 1708587
- recovery outcomeentries: basis: liquidation_alternative · quote: Based on our review of the Company's current assets and liabilities and our discussions with the Company's management, in the event of a bankruptcy, it is our view that the liquidation of the Company's assets would provide the unsecured creditors a recovery of $nil. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Unsecured creditors who opt for the Cash Election that are owed less than $1,000 would be paid in full; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: trustee · class label: Unsecured creditors who opt for the Cash Election that are owed less than $1,000 · interim final: unstated · conditional on: owed less than $1,000 · claims qualifier: unstated; basis: unstated · quote: Unsecured creditors who opt for the Cash Election and are owed between $1,000 and $10,000 could receive between $0.10 and $0.99 per dollar of unsecured claim; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: Unsecured creditors who opt for the Cash Election and are owed between $1,000 and $10,000 · interim final: unstated · conditional on: owed between $1,000 and $10,000, Cash Election chosen · claims qualifier: unstated; basis: unstated · quote: Unsecured creditors who do not opt for the Cash Election and are owed more than $10,000 would receive $0.10 per dollar of unsecured claim; and, · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: trustee · class label: Unsecured creditors who do not opt for the Cash Election and are owed more than $10,000 · interim final: unstated · conditional on: owed more than $10,000, no Cash Election · cents on dollar: 10 · claims qualifier: unstated; basis: unstated · quote: Secured creditors will receive approximately $0.80 per dollar of secured claim. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · class label: Secured creditors · interim final: unstated · claims qualifier: unstated · table missing: