Ontario · NOI
Motion Record (re Approval of Proposal, Additional Powers and Ancillary Relief Order and the Bravado Canada AVO)
Application / notice of application · 10 October 2025
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: This amount would provide for payment of 100% of the Employee Termination Claims and a dividend of approximately 17% for all other Unsecured Claims based on the current books and records of the Company, which may be subject to change based on Proven Claims. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Employee Termination Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: This amount would provide for payment of 100% of the Employee Termination Claims and a dividend of approximately 17% for all other Unsecured Claims based on the current books and records of the Company, which may be subject to change based on Proven Claims. · pct of: unstated · outcome: distribution · pct low: 17 · pct high: 17 · class key: unsecured · stated by: proposal_trustee · class label: all other Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: As such, in a Bankruptcy, the dividend available to pay toward Unsecured Claims and Employee Termination Claims would be diluted to a dividend of approximately 9% as a result of an inclusion of the full $10,640,000 Intercompany Claim in the Unsecured Claims. · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 9 · class key: unsecured · stated by: proposal_trustee · class label: Employee Termination Claims and Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Trustee understands that the Landlord Claim would likely be valued at $0 in a Bankruptcy and, consequently, the Landlord would not receive a dividend. · pct of: unstated · outcome: nil · class key: landlord · stated by: proposal_trustee · class label: Landlord · interim final: unstated · claims qualifier: unstated; basis: plan · quote: who are expected to receive 100% of their claims under the Proposal; and · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: debtor · class label: Employees with an Employment Termination Claim · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Based on the claims received, unsecured creditors are expected to receive approximately 19% of their claims (which recovery is expected to increase should the Bravado Transaction close). · pct of: unstated · outcome: distribution · pct low: 19 · pct high: 19 · class key: unsecured · stated by: debtor · class label: third-party unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In the Proposal Report, the Proposal Trustee estimates that the distribution to Employees who accepted their Employee Termination Claims is 100% of their total claim, versus 9% in a bankruptcy. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: debtor · class label: Employees who accepted their Employee Termination Claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In the Proposal Report, the Proposal Trustee estimates that the distribution to Employees who accepted their Employee Termination Claims is 100% of their total claim, versus 9% in a bankruptcy. · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 9 · class key: preferred · stated by: debtor · class label: Employees who accepted their Employee Termination Claims (bankruptcy scenario) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The distribution to non-employee creditors under the Proposal is 19% (based on current claims received) versus an estimated 9% if the Proposal is not implemented. · pct of: unstated · outcome: distribution · pct low: 19 · pct high: 19 · class key: unsecured · stated by: debtor · class label: non-employee creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The distribution to non-employee creditors under the Proposal is 19% (based on current claims received) versus an estimated 9% if the Proposal is not implemented. · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 9 · class key: unsecured · stated by: debtor · class label: non-employee creditors (if Proposal not implemented) · interim final: unstated · claims qualifier: unstated · stated on: 2025-08-29 · table missing: