Ontario · Receivership (court-appointed)
Motion Record returnable November 26, 2008
Application / notice of application · 26 November 2008
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What we verified from this filing5 verified
- commencement date21 November 2008
- courtONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file no07-6820-OT
- counselGowling Lafleur Henderson LLP
- recovery outcomeentries: basis: actual · quote: As a result of the making of this interim distribution to Textron Canada, Textron Canada's direct advances to Beta Brands were paid in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: Textron Canada · creditor name: Textron Canada · interim final: interim · claims qualifier: unstated; basis: unstated · quote: Assuming that Bremner will agree to the release of the Successor Claim Reserve, and assuming the Vacation Pay Reserve is released, the Receiver would like to effect an interim distribution of $600,000 to Sun Beta in partial satisfaction of Sun Beta's participation in Textron's loan to Beta Brands. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 600000 · cumulative: false · amount high: 600000 · class label: Sun Beta LLC · claims amount: 3500000 · creditor name: Sun Beta LLC · interim final: interim · conditional on: Assuming that Bremner will agree to the release of the Successor Claim Reserve, and assuming the Vacation Pay Reserve is released · claims qualifier: unstated; basis: actual · quote: Pursuant to reasons released on August 1, 2007, the Court determined that the claims of both Capitalink and the Key Employees were unsecured claims against Beta Brands that should not be paid by the Receiver. · pct of: unstated · outcome: nil · class key: unsecured · stated by: court · class label: Capitalink and the Key Employees · interim final: unstated · claims qualifier: unstated · stated on: 2008-11-21 · table missing: