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: 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: 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, collectively, the "TOTAL CLAIMS BALANCE"), except that if the TOTAL CLAIMS BALANCE exceeds $5,500,000 then the aggregate dividend under this subparagraph will be $550,000 to be distributed to ORDINARY CREDITORS pro rata to their respective CLAIM BALANCE; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 500 · amount high: 500 · 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), plus ten percent (10%) of the balance remaining (CLAIM BALANCE), except that if the TOTAL CLAIMS BALANCE exceeds $5,500,000 then the aggregate dividend will be $550,000 distributed pro rata · 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: