British Columbia · Proposal
Notice of Application for Approval of Proposal - True Leaf Investments
Application / notice of application · 2 November 2020
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 filing1 verified
- recovery outcomeentries: basis: plan · quote: The TLI proposal provides that the Canguard Entities will provide the sum of $10,000 to be distributed to TLI's unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 10000 · amount high: 10000 · class label: TLI's unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: provides a greater return to each of the companies' respective group of unsecured creditors than in a bankruptcy - the liquidation and sale of the companies' assets upon bankruptcy will result in no distribution to the unsecured creditors; · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: the companies' respective group of 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: debtor · class label: Unsecured Creditors · interim final: unstated · conditional on: If the Proposal is not accepted by the Unsecured Creditors, the Company will be deemed bankrupt · claims qualifier: unstated · table missing: