Ontario · CCAA
Sanction Order
Plan sanction / final order · 9 August 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- presiding officerJustice Michael A. Penny
- recovery outcomeentries: basis: plan · quote: (a) on the later of (i) the Plan Implementation Date, or (ii) when due, or such later date in accordance with Section 6.4 in respect of any Unresolved Claim that becomes a Proven Claim, if any, an amount equal to 70% of such Distribution Creditor's Proven Claim; and · pct of: proven_claims · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Affected General Unsecured Creditors · interim final: unstated · conditional on: 70% of Proven Claim on the later of the Plan Implementation Date or when due; 30% on the earlier of closing of sale of remaining residential units at the Sheddon Project or eight months from the Plan Implementation Date · claims qualifier: unstated; basis: unstated · quote: (a) an amount equal to 100% of such Funded Debt Claims, including all accrued interest and fees, on no later than June 30, 2025; and · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Funded Debt Unsecured Creditor · interim final: unstated · conditional on: guarantees and charges on Real Properties to secure the Funded Debt Claims · claims qualifier: unstated; basis: plan · quote: Holders of Equity Claims will not receive a distribution or other consideration under the Plan and will not be entitled to vote on the Plan in respect of their Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: holders of Equity Claims · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (a) $23,715,610.01 to Halmont Properties Corporation (' Halmont ') in partial satisfaction of its secured claim against the Boreal Entities; · pct of: unstated · outcome: distribution · class key: secured · stated by: court · amount low: 23715610.01 · amount high: 23715610.01 · class label: Halmont Properties Corporation · creditor name: Halmont Properties Corporation · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (b) $4,433,877.39 to Roppongi in satisfaction of its secured claim against the Boreal Entities; · pct of: unstated · outcome: distribution · class key: secured · stated by: court · amount low: 4433877.39 · amount high: 4433877.39 · class label: Roppongi · creditor name: Roppongi · interim final: unstated · claims qualifier: unstated · stated on: 2022-06-10 · table missing: