Alberta · NOI
Trustee's Report on Proposal
Court officer report · 16 April 2015
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 filing3 verified
- commencement date3 February 2015
- financial positionnote: Total assets of 1,600 ($000's) is the Estimated Realizable Value per SOA; estimated NBV total is 1,900 ($000's). Realizable value consists of accounts receivable only (capital assets proceeds and other assets shown as nil). Total liabilities not stated as a single figure: HSBC secured claim was approximately $3.2 million at December 31, 2014 ($3.7 million at NOI Filing Date), the balance since assigned to 1890642 Alberta Ltd. after partial repayment; unsecured creditors owed approximately $675k (including the deemed trust claim to CRA); no preferred creditors; no contingent creditors known. · as at: 2015-04-08 · basis: Statement of Affairs estimated realizable value, based on unaudited information prepared by the Company's representatives; reflects the sale of assets to MCW · scope: 1749049 Alberta Ltd. (formerly Hemisphere Engineering Inc.), single entity · currency: CAD · total assets: 1600000
- recovery outcomeentries: basis: plan · quote: The balance of the funds are to be distributed, on a pro rata basis, to the remaining unsecured creditors (other than the holders of Equity Claims) of the Company. · pct of: unstated · outcome: distribution · class key: equity · stated by: proposal_trustee · class label: unsecured creditors (other than the holders of Equity Claims) · interim final: unstated · conditional on: Payment will be made as soon as sufficient funds are available until the claims are paid in full, or the accounts receivable are exhausted, whichever occurs first. · claims qualifier: unstated · table missing: