Ontario · CCAA
Motion record of the Payless Canada Entities
Application / notice of application · 23 October 2019
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The CCAA Plan provides for a recovery to General Unsecured Creditors of approximately 3.2% of their Proven Claims and a distribution in an amount to a maximum of $3,840 for each Proven Landlord Claim in excess of that amount. · pct of: proven_claims · outcome: distribution · pct low: 3.2 · pct high: 3.2 · class key: unsecured · stated by: debtor · class label: General Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The CCAA Plan classifies Landlords in a separate class for voting purposes and provides that each Landlord will receive the lesser of: · pct of: unstated · outcome: distribution · class key: landlord · stated by: debtor · class label: Landlord · interim final: unstated · conditional on: the lesser of $3,840.00 per Lease (only one payment of $3,840.00 per Lease even if multiple Landlords) or the amount asserted in the Landlord's Notice of Dispute of Claim Statement or Proof of Claim, or the Claim Statement amount if no dispute was filed · claims qualifier: unstated; basis: liquidation_alternative · quote: Since all or substantially all of the Payless Canada Entities' assets are subject to liens of the Term Loan Lenders (who will not be paid in full), the Canadian GUC Amount is a "gift", which the Term Loan Lenders advise would not be available in a bankruptcy. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: Term Loan Lenders · creditor name: Term Loan Lenders · interim final: unstated · claims qualifier: unstated · stated on: 2019-10-23 · table missing: