Quebec · CCAA
Nineteenth Report of the Monitor on the Petitioner’s Plan of Arrangement – dated May 14, 2015
Plan of arrangement / compromise · 14 May 2015
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Creditors holding Wrongful Death Claims shall in the aggregate receive 24.1% excluding i. Reallocated Dividends (as defined below) of the Funds for Distribution in full and final satisfaction of their Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 24.1 · pct high: 24.1 · class key: unsecured · stated by: monitor · class label: Creditors holding Wrongful Death Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors holding Bodily Injury and Moral Damages Claims shall in the aggregate ii. receive 10.4% excluding Reallocated Dividends (as defined below) of the Funds for Distribution in full and final satisfaction of their Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 10.4 · pct high: 10.4 · class key: unsecured · stated by: monitor · class label: Creditors holding Bodily Injury and Moral Damages Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors having Property and Economic Damages Claims shall in the aggregate iii. receive 9.0% excluding Reallocated Dividends (as defined below) of the Funds for Distribution in full and final satisfaction of their Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 9 · pct high: 9 · class key: unsecured · stated by: monitor · class label: Creditors having Property and Economic Damages Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors having Subrogated Insurer Claims shall in the aggregate receive 4.1% of the iv. Funds for Distribution in full and final satisfaction of their Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 4.1 · pct high: 4.1 · class key: unsecured · stated by: monitor · class label: Creditors having Subrogated Insurer Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors having Government Claims shall in the aggregate receive 52.4% of the Funds v. for Distribution in full and final satisfaction of their Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 52.4 · pct high: 52.4 · class key: unsecured · stated by: monitor · class label: Creditors having Government Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors having Indemnity Claims shall not receive any distribution in the Plan or in the vi. U.S. Plan from the Settlement Funds. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Creditors having Indemnity Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Creditors having Non-Derailment Claims shall not receive any distribution in the Plan. vii. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Creditors having Non-Derailment Claims · interim final: unstated · conditional on: May be entitled to a distribution in the U.S. Plan from any available net proceeds resulting from the liquidation of MMAR's assets. · claims qualifier: unstated; basis: plan · quote: According to the Disclosure Statement for the U.S. Plan, general unsecured claims will receive a distribution of between 3% and 71% of the aggregate claim value in this class. · pct of: unstated · outcome: distribution · pct low: 3 · pct high: 71 · class key: unsecured · stated by: monitor · class label: Class 13 general unsecured claims · interim final: unstated · conditional on: The high end of the recovery range assumes a substantial recovery on potential preferential actions that may be initiated by the Trustee. · claims qualifier: unstated; basis: plan · quote: Classes 14 and 15 represent subordinated claims and equity interests and will not receive any distribution and are deemed to reject the U.S. Plan. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: Classes 14 and 15 subordinated claims and equity interests · interim final: unstated · claims qualifier: unstated · stated on: 2015-05-14 · table missing: