The place God calls you is the place where your deep gladness and the world's deep hunger meet.

Friday, August 14, 2009

Inspectors Meeting and Conference Call

There was both an Inspectors Meeting (involving the 5 who are representing Imagine Families), and a BC Conference Call which Ben and I were a part of, yesterday.

I am a bit disappointed to relay the message that there wasn't a lot of information learned. However, we are hoping to see a draft proposal (this would be "the plan" used to bring Imagine back out of bankruptcy) within the next 7-10 days.

There are so many steps needing to be completed to have everything "fall into place".

Once the proposal is put forth, it will then need to be approved initially by the Ministry of Youth in Ontario.

If the Ministry accepts it, the Inspectors would then be privy to it. Upon acceptance by them, it would be put forth to the Creditors, (in case you are sure who that is - it's yours truly...and approximately 226 other families, stakeholders, landscapers, car dealers, etc).

Upon acceptance at this third step, the proposal would then be put forth by the courts to enable the bankruptcy to be resolved.

If/when the restructuring proposal makes it to the Creditors, we will vote on whether or not to accept it. A vote of 50% + 1, as well as a dollar amount totaling or exceeding a representative of 2/3 of the monies represented would be needed to "activate" the proposal.

Following? Complicated, I know. (For example, for sake of ease say there are 300 creditors representing $3 million. We would need a vote of 151 creditors in favour of the proposal, as well as $2 million represented by all these creditors in order for the proposal to go ahead.)

This is stressful. I know everything was determined, decided, and known long before we ever even started this journey. I know I need to let it go and have faith. But, I am human and full of flaws - over-thinking and worrying about such life-changing things as this is one of them. I am constantly encouraged and overwhelmed by the people who talk about "when" our daughter comes home. It gives me confidence to know that they feel God is leading this way.

So, if you could please continue to pray for a timely decision and favourable outcome we would be so grateful.

I can only imagine the party we will have when we bring her home.

And through all this, the only thing asked of me from On High is to have mustard seed faith.

1 comment:

Mel said...

Thanks for keeping us up to date Ashleigh! I just sat down and read thru all your posts, i feel i understand the situation well now, although confusing you do a good job explaining it! Praying for you guys, ohhh your daughter is going to feel so loved when she hears the journey you guys went on so she could be with you! She is one blessed little girl! Hope you and Ben had some good time off!