British Columbia · Proposal
Report of the Trustee on the Proposal - True Leaf Cannabis
Court officer report · 24 September 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- process resultsnote: Colliers forwarded a brochure to over 60 parties as part of the Sales Process · as of: 2020-05-18 · solicited: 60
- purchaserprice: sealed: false · currency: CAD · scope: the Shares · status: proposed · name note: Purchaser under form of agreement of purchase and sale for the Shares/Property; name not stated in text provided · structure: shares · name source: schedule · relationship: unstated
- recovery outcomeentries: basis: plan · quote: Creditors with Priority Claims in accordance with the applicable provisions of the BIA, will be paid in full. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Creditors with Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Based on the Unsecured Creditor Claims known to the Proposal Trustee at this time, it is anticipated that the Funds for Distribution will be sufficient to pay all Unsecured Creditor Claims in full, less the applicable levy as indicated in the previous paragraph. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · claims amount: 25133 · interim final: unstated · conditional on: less the applicable OSB levy · claims qualifier: listed; basis: liquidation_alternative · quote: Accordingly, in a bankruptcy the expected distribution to the Unsecured Creditors would be NIL. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The liquidation and sale of the Company's assets upon bankruptcy will result in no distribution to Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2020-09-24 · table missing:
- sale advisorColliers Macauley Nicolls Inc.
- sale outcometext: Sales process for the Lumby Facility was approved and marketing steps were undertaken; Proposal filed contemplating sale of Shares. · scope: parcel · status: process_approved