Ontario · CCAA
Plan Sanction Order December 14, 2016
Plan sanction / final order · 14 December 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: common shares of Amalgamated LIM representing, in the aggregate and post implementation, approximately 49% of I IM's issued shares; and, · pct of: unstated · outcome: distribution · pct low: 49 · pct high: 49 · class key: unsecured · stated by: debtor · class label: Affected Unsecured Creditors of LIM and SMI · interim final: unstated · claims qualifier: unstated; basis: plan · quote: On the Plan Implementation Date, Affected Unsecured Creditors having Distribution Claims against LIMH or its Directors or Officers, who are not Convenience Creditors will receive their Pro Rata Share of new common shares of LIMH representing, in the aggregate and post implementation, approximately 25% of LIMH's issued shares(subject to no creditor receiving more that 19.99% of the post -implementation issued shares of LIMH), provided that the effect of the resolution of any Disputed Distribution Claim against LIMH shall be to dilute the interest of pre-filing shareholders of LIMH, and not the interest of Affected Unsecured Creditors having Distribution Claims against LIMH. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: debtor · class label: Affected Unsecured Creditors of LIMH · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: In consideration of its intercompany claim against LIM and Schefferville , LIMH shall become entitled to receive and hold, among other things, approximately 51% of the issued common shares of LIM; and · pct of: unstated · outcome: distribution · pct low: 51 · pct high: 51 · class key: unsecured · stated by: debtor · class label: LIMH (Intercompany Claims) · creditor name: LIMH · interim final: unstated · related party: true · claims qualifier: unstated; basis: plan · quote: Creditors with proven claims against LIM and SMI shall receive and hold, among other things, 100% of the issued common shares of HIRL; and · pct of: proven_claims · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Creditors with proven claims against LIM and SMI · interim final: unstated · claims qualifier: proven · table missing: