Alberta · CCAA
Plan of Compromise and Arrangement
Plan of arrangement / compromise · 2 September 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Existing Equity Holders and holders of Equity Claims shall not be entitled to attend or vote in respect of their Equity Claims at any meeting to consider and approve this Plan and shall not receive any distribution under the Plan on account of their Existing Shares or Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Existing Equity Holders and holders of Equity Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Any federal and provincial government claims of the kind described in subsection 6(3) of the CCAA that were outstanding at the Filing Date shall be paid in full within six months after the Sanction Order, as required by subsection 6(3) of the CCAA. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: federal and provincial government claims under subsection 6(3) of the CCAA · interim final: unstated · conditional on: paid in full within six months after the Sanction Order · claims qualifier: unstated; basis: plan · quote: If not already paid, then immediately after the date of the Sanction Order, the Applicants will pay in full all employee-related payments required by subsection 6(5) of the CCAA, provided that this Section 3.9 shall not require payment of any employee-related amounts in advance of the normal payroll cycle applicable to employees. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: employee-related payments required by subsection 6(5) of the CCAA · interim final: unstated · conditional on: not in advance of the normal payroll cycle · claims qualifier: unstated; basis: plan · quote: Cequence will pay in full the Affected Claims of the Convenience Class Creditors, and all of the Affected Claims of the Convenience Class Creditors will be fully and finally forgiven, settled and extinguished. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: debtor · class label: Convenience Class Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Cequence will pay the Unsecured Creditors that are not Convenience Class Creditors (i) 100% of the first $1,500 of each Unsecured Claim, and (ii) payment of the Pro Rata Share in respect of each Unsecured Claim of the balance of the Unsecured Creditors' Fund, and each such Unsecured Creditor's Affected Claim will be fully and finally forgiven, settled and extinguished. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 1500 · amount high: 1500 · class label: Unsecured Creditors that are not Convenience Class Creditors · interim final: unstated · conditional on: 100% of the first $1,500 of each Unsecured Claim, plus Pro Rata Share of balance of the Unsecured Creditors' Fund · claims qualifier: unstated; basis: plan · quote: Notwithstanding the terms of Section 4.2 above, the Term Loan Lenders will not share in the distribution of the Unsecured Creditors' Fund in respect of the Term Loan Deficiency Claim. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: Term Loan Lenders (Term Loan Deficiency Claim) · creditor name: Term Loan Lenders · interim final: unstated · claims qualifier: unstated · stated on: 2020-08-18 · table missing: