Manitoba · Interim receivership
Report of Trustee on Proposal (Form 40)
Court officer report · 19 January 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The Amended Proposal is projected to produce an average distribution to overall unsecured creditor claims of approximately 7.6 percent, although creditors with claims of $1,500 or less, or those creditors that choose to reduce their claim to $1,500 will recover a higher percentage distribution. · pct of: unstated · outcome: distribution · pct low: 7.6 · pct high: 7.6 · class key: unsecured · stated by: trustee · class label: overall unsecured creditor claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Employee claims will be paid in full within ten days of the Amended Proposal court approval date. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Employee claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Pension claims will be paid by the debtor outside of the Amended Proposal, within twelve months of court approval. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Pension claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: It is anticipated that in the event of a bankruptcy secured creditors would act under their respective security agreements resulting in a greater shortfall against secured claims than in the proposal proceeding. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Any post-filing claims are unaffected by the Amended Proposal and will be paid in full by the debtor in the ordinary course of business. · pct of: unstated · outcome: paid_in_full · stated by: trustee · class label: post-filing claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Crown Claims: The Crown Claims, without interest, will be paid in full out of the Basket Amount within 60 days after issuance of the Proposal Approval Order, or as may otherwise be arranged with the Crown; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Preferred Claims: The Preferred Claims, without interest, will be paid in full out of the Basket Amount, in priority to the Ordinary Unsecured Claims, after issuance of the Proposal Approval Order. · 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: 1. Firstly, on account of Proven Unsecured Claims equal to or less than $1,500, including those Ordinary Unsecured Creditors that choose to reduce their Proven Unsecured Claim to $1,500, a dividend equal to the lesser of $1,500 and the aggregate amount of such Creditor's Proven Unsecured Claim, · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 1500 · amount high: 1500 · class label: Ordinary Unsecured Claims · interim final: unstated · conditional on: Firstly, a dividend equal to the lesser of $1,500 and the aggregate amount of the Proven Unsecured Claim for claims equal to or less than $1,500; Secondly, each Ordinary Unsecured Creditor holding a Proven Unsecured Claim in excess of $1,500 receives a dividend equal to their prorata share of respective Proven Unsecured Claims from the available Basket Amount · claims qualifier: unstated · stated on: 2018-01-19 · table missing: