Alberta · CCAA
Plan Sanction Order - Part 2
Plan sanction / final order · 1 February 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: On the Plan Implementation Date, in accordance with these steps and sequence set forth in Section 7.3, and in full and final satisfaction of all Senior Secured Claims, each Senior Secured Creditor will receive fifty (50) New Common Shares for every $1.00 of its Senior Secured Claims. · pct of: unstated · outcome: distribution · class key: secured · stated by: debtor · class label: Senior Secured Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (ii) second, an amount in cash equal to the lesser of: (A) $0.20 in cash for every $1.00 of its Remaining Allowed Affected Unsecured Claim Amount; or (B) such Affected Unsecured Creditor's Cash Pool Pro-Rata Share of the Cash Pool; or · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: debtor · class label: Affected Unsecured Claims (no Share Election) · interim final: unstated · conditional on: first, payment in full of the portion of its Allowed Affected Unsecured Claim which does not exceed the Initial Payment; second, the lesser of $0.20 per $1.00 of the Remaining Allowed Affected Unsecured Claim Amount or its Cash Pool Pro-Rata Share of the Cash Pool · cents on dollar: 20 · claims qualifier: unstated; basis: plan · quote: (ii) For those Affected Municipal Tax Creditors that do not exercise the Deferred Payment Option, $0.50 in cash for each $1.00 of its Remaining Affected Municipal Tax Claim Amount, paid immediately following the Plan Implementation Date. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: unsecured · stated by: debtor · class label: Affected Municipal Tax Claims (no Deferred Payment Option) · interim final: unstated · conditional on: first, payment in full of the portion of the claim not exceeding the Initial Payment; then $0.50 per $1.00 of the Remaining Affected Municipal Tax Claim Amount if Deferred Payment Option not exercised · cents on dollar: 50 · claims qualifier: unstated; basis: plan · quote: (i) Payment in full of its Remaining Affected Municipal Tax Claim Amount, to be paid by the Applicant in equal quarterly installments over 4 years, without interest (the "Deferred Payment Option"); or · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Affected Municipal Tax Claims (Deferred Payment Option) · interim final: unstated · conditional on: Payment in full over 4 years in equal quarterly installments without interest · claims qualifier: unstated; basis: plan · quote: Equity Claimants shall not receive any consideration or distributions under this Plan or otherwise recover anything in respect of their Equity Claims or Equity Interests, and shall not be entitled to vote on this Plan at the Meetings in respect of their Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Equity Claims / Equity Interests · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Unaffected Creditors will not receive any consideration or distributions under this Plan in respect of their Unaffected Claims (except to the extent their Unaffected Claims are paid in full on the Plan Implementation Date in accordance with the express terms of Section 7.3), and shall not be entitled to vote on this Plan at theMeetings in respect of their Unaffected Claims. · pct of: unstated · outcome: nil · stated by: debtor · class label: Unaffected Claims · interim final: unstated · conditional on: except to the extent their Unaffected Claims are paid in full on the Plan Implementation Date in accordance with the express terms of Section 7.3 · claims qualifier: unstated; basis: plan · quote: The Applicant shall pay in full to the DIP Lender all amounts owed pursuant to the DIP Agreement in full and final satisfaction of the DIP Facility, less any portion that the Plan Sponsor has elected to have satisfied by way of set-off against and reduce the amount to be funded by the Plan Sponsor (or an Affiliate thereof) to the Monitor in connection with the New Investment, pursuant to Section 5.2(c). · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: debtor · class label: DIP Lender · creditor name: DIP Lender · interim final: unstated · claims qualifier: unstated · table missing: