Northwest Territories · NOI
Creditor’s Package – Proposal and First Meeting of Creditor’s
Meeting materials · 6 December 2019
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 filing2 verified
- financial positionnote: Balance sheet date stated only as 'July 2019' (income statement covers January 1, 2019 to July 31, 2019). Total Equity shown as (217,121). Separately, the Statement of Affairs (Table 2) shows total book value of assets $1,864,632 and estimated realizable value $3,425,160 as at filing/Nov 29, 2019 for cash. Body text states the Company has $5.7 million of total debt. · as at: 2019-07-31 · basis: Management prepared year-to-date financial statements as at July 2019 (Appendix A), unaudited management-prepared; balance sheet headed 'Canadian Dollars in Thousands' but figures appear to be in dollars · scope: McCaw North Drilling & Blasting Ltd. (single entity) · currency: CAD · total assets: 3948401 · total liabilities: 4165521
- 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 would provide the unsecured creditors a recovery of $nil. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2019-12-06 · table missing: