Ontario · CCAA
Motion Record - Amended Initial Order
Application / notice of application · 22 April 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: It is expected that the net proceeds from the Proposed Sale will be sufficient to repay the outstanding indebtedness to Wells Fargo but that BDC and Capital will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including TorQuest, will not receive any distributions. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: BDC and Capital · creditor name: BDC and Capital · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: It is expected that the net proceeds from the Proposed Sale will be sufficient to repay the outstanding indebtedness to Wells Fargo but that BDC and Capital will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including TorQuest, will not receive any distributions. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: subsequent ranking secured creditors, including TorQuest · creditor name: TorQuest · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is estimated that the net proceeds of sale from this sale transaction will be sufficient to repay the DIP Facility (as defined below), first ranking ABL Facility (as defined below), and forecast that BDC and Capital (as defined below) will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including Torquest, will not receive any distributions. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: BDC and Capital · creditor name: BDC and Capital · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: It is estimated that the net proceeds of sale from this sale transaction will be sufficient to repay the DIP Facility (as defined below), first ranking ABL Facility (as defined below), and forecast that BDC and Capital (as defined below) will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including Torquest, will not receive any distributions. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: subsequent ranking secured creditors, including Torquest · creditor name: Torquest · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is estimated that the net proceeds of sale from the Proposed Sale will be sufficient to repay the DIP Facility and the outstanding indebtedness to Wells Fargo and BDC, and forecast that Capital will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including Torquest, will not receive any distributions. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: Capital · creditor name: Capital · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: It is estimated that the net proceeds of sale from the Proposed Sale will be sufficient to repay the DIP Facility and the outstanding indebtedness to Wells Fargo and BDC, and forecast that Capital will suffer a shortfall in recovering on their indebtedness and all subsequent ranking secured creditors, including Torquest, will not receive any distributions. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: subsequent ranking secured creditors, including Torquest · creditor name: Torquest · interim final: unstated · claims qualifier: unstated · table missing: