Quebec · Interim receivership
Notice of Proposal to Creditors – dated February 16, 2009
Notice to creditors · 16 February 2009
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Amounts owing to Her Majesty in right of Canada or a Province that could be subject to a demand under Section 224 (1.2) of the Income Tax Act, or under any substantially similar provision of provincial legislation, outstanding at the time of the filing of the NOTICE OF INTENTION, will be paid in full within six (6) months after APPROVAL; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Amounts owing to Her Majesty in right of Canada or a Province (Section 224(1.2) Income Tax Act) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Amounts owing to employees and former employees, that they would have been entitled to receive under Paragraph 136(1)(d) of the ACT if the employer became bankrupt on the date of filing of the NOTICE OF INTENTION, as well as amounts due for wages, salaries, commissions or compensation for services rendered after that date and before the APPROVAL, will be paid in full immediately after APPROVAL; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Amounts owing to employees and former employees · interim final: unstated · claims qualifier: unstated; basis: plan · quote: PREFERRED CLAIMS, other than the claims referred to in subparagraph 4 hereof, without interest, will be paid in full in priority to all claims of ORDINARY CREDITORS, within sixty (60) days following APPROVAL; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: PREFERRED CLAIMS · interim final: unstated · claims qualifier: unstated; basis: plan · quote: POST-FILING GOODS AND SERVICES will be paid in full in the ordinary course of business and on regular trade terms or as may be arranged by the COMPANY; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: debtor · class label: POST-FILING GOODS AND SERVICES · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (ii) ten percent (10%) of the balance remaining, after payment of the BASE AMOUNT, of each ORDINARY CREDITOR's ORDINARY CLAIM (each, a "CLAIM BALANCE" and all such CLAIM BALANCEs being, ceol , th TOTAL CLAIMS BALANCE exceeds $4,000,000 then the aggregate dividend under this subparagraph will be $400,000 to be distributed to ORDINARY CREDITORS pro rata to their respective CLAIM BALANCE; · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: debtor · class label: ORDINARY CREDITORS · interim final: unstated · conditional on: the lesser of the value of such ORDINARY CREDITOR's ORDINARY CLAIM and $500 (the BASE AMOUNT) paid within sixty (60) days following APPROVAL, plus 10% of the CLAIM BALANCE, plus 20% of the MONETIZED CARBON CREDIT AMOUNT annually in 2009-2011 · claims qualifier: unstated; basis: plan · quote: the POSTPONED CREDITORS will have postponed all their rights with respect to the POSTPONED CLAIMS, such that no funds will be disbursed by the COMPANY in respect of POSTPONED CLAIMS until all amounts payable to the ORDINARY CREDITORS pursuant to all terms of the PROPOSAL will have been paid in full; · pct of: unstated · outcome: nil · stated by: debtor · class label: POSTPONED CREDITORS · interim final: unstated · conditional on: no funds will be disbursed by the COMPANY in respect of POSTPONED CLAIMS until all amounts payable to the ORDINARY CREDITORS pursuant to all terms of the PROPOSAL will have been paid in full · claims qualifier: unstated · stated on: 2009-02-16 · table missing: