Ontario · NOI
Fourth Report of the Proposal Trustee
Court officer report · 25 September 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: On its face, the Lee Bid presents the potential for (a) current secured creditors to be made whole; (b) unsecured creditors to receive a settlement of approximately 20 cents on the dollar; (c) Debenture Holders to convert their debts to equity; and (d) shareholders to retain some (diluted) equity. · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · conditional on: based on the Lee Bid, which the Proposal Trustee views as speculative and highly conditional · cents on dollar: 20 · claims qualifier: unstated; basis: estimated · quote: a minimum shortfall, in the amount of $2,376,394, on the Zwingenberger Mortgage secured against the Subject Lands; · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: Zwingenberger Mortgage · creditor name: Zwingenberger · interim final: unstated · conditional on: based on the current Purchase Price Allocation in the BLK SWN APA, which may be amended prior to closing · claims qualifier: unstated · shortfall amount: 2376394; basis: estimated · quote: payment, in full, to RBC in respect of its remaining indebtedness secured against the Personal Property; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: RBC · creditor name: RBC · interim final: unstated · conditional on: based on the current Purchase Price Allocation in the BLK SWN APA, which may be amended prior to closing · claims qualifier: unstated; basis: estimated · quote: payment, in full, to Muskoka Community Futures Development Corporation in respect of its remaining indebtedness secured against the Personal Property; and · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Muskoka Community Futures Development Corporation · creditor name: Muskoka Community Futures Development Corporation · interim final: unstated · conditional on: based on the current Purchase Price Allocation in the BLK SWN APA, which may be amended prior to closing · claims qualifier: unstated; basis: estimated · quote: approximately $3,113,000 available for distribution to unsecured creditors (including the Debenture Holders) on a pari passu basis. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 3113000 · amount high: 3113000 · class label: unsecured creditors (including the Debenture Holders) · interim final: unstated · conditional on: based on the current Purchase Price Allocation in the BLK SWN APA, which may be amended prior to closing · claims qualifier: unstated · stated on: 2020-09-25 · table missing: