British Columbia · Proposal
Trustee's Report to Creditors
Court officer report · 14 April 2015
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: liquidation_alternative · quote: In the event of a bankruptcy, it is anticipated that there would be a shortfall to the Lenders resulting in no recovery for unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Lenders · creditor name: Lenders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In the event of a bankruptcy, it is anticipated that there would be a shortfall to the Lenders resulting in no recovery for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: employees and contractors to the company who, at law, are deemed to be employees of the Company will receive, as a Priority Creditor, up to a maximum of approximately $3,808 of their Proven Claim with the remainder of their claim being paid as an Affected Creditor (either as a Convenience Creditor or at twenty cents ($0.20) for each dollar of their Proven Claim). · pct of: unstated · outcome: distribution · class key: preferred · stated by: trustee · amount high: 3808 · class label: employees and contractors · interim final: unstated · conditional on: up to a maximum of approximately $3,808 as Priority Creditor; remainder paid as an Affected Creditor (Convenience Creditor or twenty cents per dollar of Proven Claim) · claims qualifier: unstated; basis: plan · quote: pension plan withholdings, outlined in subsection 60(1.5) of the BIA will be paid as a Priority Creditor in full. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: trustee · class label: pension plan withholdings · interim final: unstated · claims qualifier: unstated; basis: plan · quote: all Convenience Creditors will receive the full amount of their Proven Claim to a maximum of $1,000; and · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount high: 1000 · class label: Convenience Creditors · interim final: unstated · conditional on: full amount of Proven Claim to a maximum of $1,000 · claims qualifier: unstated; basis: plan · quote: all Unsecured Creditors who are not Convenience Creditors or the Insurance Claimant, will receive twenty cents ($0.20) for each dollar of their Proven Claim. · pct of: proven_claims · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: trustee · class label: Unsecured Creditors who are not Convenience Creditors or the Insurance Claimant · interim final: unstated · cents on dollar: 20 · claims qualifier: unstated; basis: liquidation_alternative · quote: In the event of a bankruptcy, it is anticipated that there would be no recovery available for the Affected Creditors, given any proceeds generated by the realization of the Company's assets would first be paid to the Company's secured creditors in order of priority ranking. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Estimated return to Unsecured Creditors (Affected Creditors and priority claims) | | | 30% | 2% | 2% | · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: preferred · stated by: trustee · class label: Estimated return to Unsecured Creditors (Affected Creditors and priority claims) · interim final: unstated · claims qualifier: unstated · stated on: 2015-04-14 · table missing: