Quebec · CCAA
Petitioner's Verified Petition Under Chapter 15 for Recognition of the Canadian Proceedings
Application / notice of application · 19 March 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: based on the price payable under the Subscription Agreement, all the Lenders are suffering a significant shortfall on their senior secured position such that no recovery would be expected for any other secured or unsecured creditors under the Principal Transaction, regardless of the structure employed; · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Lenders · creditor name: Syndicated Lenders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: based on the price payable under the Subscription Agreement, all the Lenders are suffering a significant shortfall on their senior secured position such that no recovery would be expected for any other secured or unsecured creditors under the Principal Transaction, regardless of the structure employed; · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: other secured or unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In particular, given that the Syndicated Lenders will suffer a significant shortfall on their senior secured position, the Company's later ranking creditors, including unsecured creditors, will not be in a position to obtain recovery, regardless of the structure employed. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Syndicated Lenders · creditor name: Syndicated Lenders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In particular, given that the Syndicated Lenders will suffer a significant shortfall on their senior secured position, the Company's later ranking creditors, including unsecured creditors, will not be in a position to obtain recovery, regardless of the structure employed. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: later ranking creditors, including unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Syndicated Lenders, the creditors with the only economic interest in the assets being disposed of, are supportive of the Proposed Transactions, notwithstanding that they will suffer a significant shortfall on the Credit Facilities; · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Syndicated Lenders · creditor name: Syndicated Lenders · interim final: unstated · claims qualifier: unstated · table missing: