Ontario · CCAA
Supplement to the Monitor’s Fourth Report
Court officer report · 13 August 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The Plans both provide that any creditors who hold valid and enforceable security over the Company (the "Secured Creditors") will be fully paid on the Plan Implementation Date. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Plans both provide that the Company's Unaffected Creditors and 265 Unaffected Creditors (as defined in Appendix "B") will be largely unaffected and paid in full on the Plan Implementation Date, including the full payment of the CCAA Charges. · pct of: unstated · outcome: paid_in_full · stated by: monitor · class label: Unaffected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Convenience Creditors: Proven Claims of $10,000 or less will be deemed as Convenience Creditors and will receive the convenience amount (full payment of the lesser of $10,o00 or the amount of Proven Claim) [on the Plan Implementation Date]; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · amount low: 10000 · amount high: 10000 · class label: Convenience Creditors (Company Plan) · interim final: unstated · conditional on: full payment of the lesser of $10,000 or the amount of Proven Claim · claims qualifier: unstated; basis: plan · quote: entitlement to the Distribution Creditor Entitlement which will result in full payment of each Distribution Creditors' unpaid Claim, to be paid in full over a maximum of three years in equal installments, subject to potential acceleration based on Company financial metrics. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: Affected Creditors - Distribution Option (Company Plan) · interim final: unstated · conditional on: pro rata distribution of the Distribution Pool on implementation, plus full payment of unpaid Claim over a maximum of three years in equal installments, subject to potential acceleration · claims qualifier: unstated; basis: plan · quote: These convenience creditors will receive 100% of their claim up to $10,000 on the Plan Implementation Date · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · amount low: 10000 · amount high: 10000 · class label: 265 Convenience Creditors (Amended 265 Plan) · interim final: unstated · conditional on: 100% of claim up to $10,000 · claims qualifier: unstated; basis: plan · quote: Distribution Creditors will receive payment on the Plan Implementation Date equal to the Creditor's Pro Rata Share and will also be entitled to the Distribution Creditor Entitlement which result in full payment of each Distribution Creditors' unpaid Claim paid over a maximum of three (3) · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: Distribution Creditors (Amended 265 Plan) · interim final: unstated · conditional on: Pro Rata Share on implementation plus Distribution Creditor Entitlement resulting in full payment over three years in installments of 33%, subject to potential acceleration · claims qualifier: unstated; basis: plan · quote: Secured claims will be paid in full · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: Secured claims (Amended 265 Plan) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Priority Claims and other Unaffected Claims shall be paid in full · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: monitor · class label: Priority Claims and other Unaffected Claims (Amended 265 Plan) · interim final: unstated · claims qualifier: unstated · stated on: 2020-08-13 · table missing: