British Columbia · Receivership (court-appointed)
Creditor's Package
Meeting materials · 27 January 2015
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: a t n en e t n n n n h e equal to or less than $2,000 shall be deemed to have elected to receive a cash distribution equal to 99% of the aggregate of their Proven Claims and to have cast their Voting Claims in favour of approval of the Proposal; or · pct of: proven_claims · outcome: distribution · pct low: 99 · pct high: 99 · class key: unsecured · stated by: trustee · class label: Affected Creditors with Proven Claims equal to or less than $2,000 · interim final: unstated · claims qualifier: unstated; basis: plan · quote: may at its option elect to reduce the amount of its Proven Claims to the sum of $2,000, and in such case such Affected Creditor shall be deemed to have elected to receive a cash distribution equal to $1,996 (being approximately 99% of $2,000) and to have cast its Voting Claim in favour of approval of the Proposal; or · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 1996 · amount high: 1996 · class label: Affected Creditors with Proven Claims greater than $2,000 electing to reduce claim to $2,000 · interim final: unstated · conditional on: may elect to reduce Proven Claim to $2,000 and receive $1,996 (approximately 99% of $2,000) · claims qualifier: unstated; basis: plan · quote: If such Affected Creditor does not make the election referenced above, then such Affected Creditor shall in respect of its Proven Claims receive a cash distribution in an amount equal to 0.5% of its Proven Claim. · pct of: proven_claims · outcome: distribution · pct low: 0.5 · pct high: 0.5 · class key: unsecured · stated by: trustee · class label: Affected Creditors with Proven Claims greater than $2,000 not electing to reduce claim · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The first secured mortgagee, HSBC, shall not be entitled to receive any distributions in this Proposal; and, · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: HSBC (First Priority Mortgagee) · creditor name: HSBC Bank Canada · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: If the Proposal is not successful, the AT would complete and will result in no recovery to Affected Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Affected Creditors (if Proposal not successful / AT completes) · interim final: unstated · conditional on: if the Proposal is not successful and the AT completes · claims qualifier: unstated; basis: estimated · quote: The estimated dividends to the Affected Creditors is $58,000. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 58000 · amount high: 58000 · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2015-01-27 · table missing: