Ontario · NOI
Proposal Trustee's Third Report to Court dated December 1, 2020
Court officer report · 1 December 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 filing4 verified
- operational summaryThe Company is not presently operating and has only a small number of employees; its only material asset is litigation against PGH, and it is relying on DIP financing and wage subsidies to fund minimal costs while pursuing that litigation toward a scheduled trial in March 2021.
- recovery outcomeentries: basis: liquidation_alternative · quote: creditors will not receive any recovery in a bankruptcy whereas continuing the NOI proceedings provides an opportunity for recoveries that would be funded through a proposal if the Company's litigation is successful, or if a settlement provides the Company with a meaningful financial recovery; · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2020-12-01 · table missing:
- report date1 December 2020
- report noThird Report