Quebec · CCAA
Amended Report of the Monitor on the State of the Debtor’s Affairs and the Amended Plan of Compromise June 15, 2016, amended on June 16, 2016 for paragraphs 34, 45 and 46 – dated June 16, 2016
Court officer report · 15 June 2016
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing4 verified
- closing confirmedscope: the Debtor's assets and business · outcome: completed · effective: 2016-05-25 · purchaser: 9721444 Canada Inc. · date basis: stated · approval order date: 2016-05-24
- purchaser9721444 Canada Inc.
- recovery outcomeentries: basis: liquidation_alternative · quote: The only realistic alternative to the Amended Plan is a bankruptcy, which would result in no recovery to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In the event the creditors reject the Amended Plan, the only realistic alternative is bankruptcy, which would result in no recovery to the Affected Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (ii) Second to pay Employee Pre-Filing Priority Claims and Government Priority Claims in full; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: monitor · class label: Employee Pre-Filing Priority Claims and Government Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As shown in the above table, the recovery for Affected Creditors under the Amended Plan is estimated at 0.58%. · pct of: unstated · outcome: distribution · pct low: 0.58 · currency: CAD · pct high: 0.58 · class key: unsecured · stated by: monitor · class label: Affected Creditors · claims amount: 41368365 · interim final: unstated · currency quote: All amounts are stated in Canadian dollars · claims qualifier: estimated; basis: liquidation_alternative · quote: The Monitor is of the opinion that if the Amended Plan is not approved by the creditors, the only realistic alternative is bankruptcy and the Affected Creditors would receive no distribution. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2016-06-15 · table missing:
- sale outcometext: all assets were sold pursuant to an order of the Court issued on May 24, 2016 · scope: whole_business · status: closed