Ontario · NOI
Order (Approving Proposal) – dated February 23, 2021
Plan sanction / final order · 23 February 2021
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 filing2 verified
- counselFASKEN MARTINEAU DuMOULIN LLP
- recovery outcomeentries: basis: plan · quote: Crown Priority Claims: All Crown Priority Claims that were outstanding as at the Filing Date, if any, shall be paid in full to Her Majesty in right of Canada or a Canadian province or territory, as applicable, within three (3) months after the issuance of the Proposal Approval Order. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Employee Priority Claims: All Employee Priority Claims, if any, will be paid in full in amounts determined by the Proposal Trustee pursuant to section 135 of the Act. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Convenience Creditor Claims: Each Convenience Creditor, including, for clarity, any Unsecured Creditors that submit a Convenience Creditor Election, will be paid by the Proposal Trustee an amount in cash equal to the lesser of (a) $2,000 and (b) the value of such Convenience Creditor's Proven Claim. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount high: 2000 · class label: Convenience Creditor Claims · interim final: unstated · conditional on: the lesser of $2,000 and the value of such Convenience Creditor's Proven Claim · claims qualifier: unstated; basis: plan · quote: Preferred Claims: Any remaining Preferred Claims (after the payments provided in 2.5(a) to 2.5(d) of this Proposal have been made, or reserves taken therefor), if any, shall be paid without interest in priority to the Proven Claims addressed by Article 2.5(f) of this Proposal. · pct of: unstated · outcome: distribution · class key: preferred · stated by: debtor · class label: Preferred Claims · interim final: unstated · conditional on: after the payments provided in 2.5(a) to 2.5(d) have been made, or reserves taken therefor · claims qualifier: unstated; basis: plan · quote: Unsecured Claims: The holders of Proven Claims not addressed in 2.5(a) to 2.5(e) of this Proposal will receive an amount from the balance of the Sponsor Funds (subject to any reserves taken to satisfy the payments provided in 2.5(a) to 2.5(e) of this Proposal). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · class label: Unsecured Claims · interim final: unstated · conditional on: subject to any reserves taken to satisfy the payments provided in 2.5(a) to 2.5(e) of this Proposal · claims qualifier: unstated; basis: plan · quote: For greater certainty, the Secured Claims and the Sponsor Claims shall not receive any distribution under this Proposal and shall remain unaffected by this Proposal. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: Secured Claims and the Sponsor Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Post-filing Claims shall be paid in full by the Company in the ordinary course of business, and on regular trade terms, prior to the payment of the Sponsor Funds to the Proposal Trustee. · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: Post-filing Claims · interim final: unstated · claims qualifier: unstated · table missing: