Quebec · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 10 September 2015
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What we verified from this filing8 verified
- courtSUPERIOR COURT
- court file no500-11-049204-155
- provinceQUEBEC
- appointeeDeloitte Restructuring Inc.
- appointee roletrustee
- commencement date20 August 2015
- financial positionnote: Book value of the sole asset (claim against HII) was $27,252,000 vs. estimated net realization value of $7,070,441; unsecured creditor claim (Valbonne, sole known creditor) estimated at $61,800,213 (EUR 42,190,205 converted at 1.4648); resulting estimated deficit of $(54,729,772). Trustee notes future distributions under HII's plan of arrangement are expected to increase the net realization value. · as at: 2015-08-20 · basis: unaudited; net realization value (estimated) as at bankruptcy date, book value of claim also shown at 27,252,000 · scope: entity-level - Homco Realty Fund (68) Limited Partnership only · currency: CAD · total assets: 7070441 · total liabilities: 61800213
- recovery outcomeentries: basis: estimated · quote: The Trustee estimates that the proceeds which will be realized from the liquidation of H68's assets (totaling $7.1M as per the Summary of the Assets and Liabilities of H68) could result in a dividend of approximately 11 cents on the dollar to the sole known unsecured creditor, Valbonne (which has a claim totaling approximately $61.8M as per the Memorandum of Understanding and the Summary of Assets and Liabilities of H68). · pct of: unstated · outcome: distribution · pct low: 11 · pct high: 11 · class key: unsecured · stated by: trustee · class label: Valbonne (sole known unsecured creditor) · claims amount: 61800000 · creditor name: Valbonne · interim final: unstated · conditional on: The amount of the final dividend to the unsecured creditor or creditors will depend on the final realizable value of H68's assets, the total amount of claims that will be proven, and on the costs of administration of the estate. · cents on dollar: 11 · claims qualifier: estimated · stated on: 2015-09-10 · table missing: