Quebec · Proposal
Report of the Trustee on the Financial Situation of the Debtor and on the Proposal – dated March 20, 2008
Court officer report · 20 March 2008
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What we verified from this filing10 verified
- appointeeRSM Richter Inc.
- appointee roleTrustee
- commencement date13 February 2008
- courtSUPERIOR COURT (Commercial Division)
- court file no500-11-032527-083
- proceeding typebia_proposal
- provinceQUÉBEC
- statutory basisSections 50(5) and 50(10)b of the Bankruptcy and Insolvency Act
- statutory basisSections 50(5) and 50(10)b) of the Bankruptcy and Insolvency Act (the "Act")
- recovery outcomeentries: basis: liquidation_alternative · quote: As mentioned above, subject to the validity of BMO's security, after costs of a bankruptcy/liquidation, no dividend is envisaged for any of the Company's Preferred and Ordinary creditors, even assuming that full "book" value can be realized. · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · conditional on: subject to the validity of BMO's security, after costs of a bankruptcy/liquidation · claims qualifier: unstated; basis: liquidation_alternative · quote: As mentioned above, subject to the validity of BMO's security, after costs of a bankruptcy/liquidation, no dividend is envisaged for any of the Company's Preferred and Ordinary creditors, even assuming that full "book" value can be realized. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Ordinary creditors · interim final: unstated · conditional on: subject to the validity of BMO's security, after costs of a bankruptcy/liquidation · claims qualifier: unstated; basis: estimated · quote: Our best "guestimate" as of the present date, is in the range of 30% from the Settlement Fund (as calculated hereinafter) to a maximum of 50% from the Settlement Fund - Additional, as per the Proposal. · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: unsecured · stated by: trustee · class label: Ordinary creditors · interim final: unstated · claims qualifier: unstated · stated on: 2008-03-20 · table missing: