Quebec · CCAA
Petition to Amend the Plan of Arrangement – dated May 7, 2010
Plan of arrangement / compromise · 7 May 2010
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 filing1 verified
- recovery outcomeentries: basis: plan · quote: Each Secured Creditor shall be paid the full amount of its Secured Claim, according to terms agreed to between those creditors and the Petitioners, on or after the Sanction Order. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Secured Creditors · interim final: unstated · conditional on: according to terms agreed to between those creditors and the Petitioners · claims qualifier: unstated; basis: plan · quote: In accordance with subsection 6(3) of the CCAA, Crown Claims will be paid in full no later than six (6) months after the date of the Sanction Order. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Crown Claims · interim final: unstated · conditional on: no later than six (6) months after the date of the Sanction Order · claims qualifier: unstated; basis: liquidation_alternative · quote: in a bankruptcy scenario, the Unsecured Creditors would stand to receive nothing given that all the Petitioners' assets are pledged in favour of the Secured Creditors who are owed significantly more than the estimated realizable liquid ation value of the said assets; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · conditional on: in a bankruptcy scenario · claims qualifier: unstated; basis: liquidation_alternative · quote: (iii) the only alternative to the Amended Plan is the bankruptcy of the Petitioners, which would result in a significant shortfall to the Secured Creditors and no recovery to the Unsecured Creditors; · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Secured Creditors · interim final: unstated · conditional on: bankruptcy of the Petitioners · claims qualifier: unstated · stated on: 2010-05-07 · table missing: