CCAA
Monitor's Fourth Report to Court
Court officer report · 22 December 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: unstated · quote: The Acquisition Agreement provides for the assumption of the face value and accrued interest of the outstanding Amended Debentures which provides the opportunity for a full recovery for the Amended Debenture holders. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: monitor · class label: Amended Debenture holders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: There would be no recovery to the shareholders in a bankruptcy or other liquidation. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: shareholders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In a liquidation it is anticipated that the creditors would receive little to no recovery, as Plus has minimal realizable assets. · pct of: unstated · outcome: nil · stated by: monitor · class label: creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Noteholders shall receive 100% of the value of the total principal outstanding and the accrued interest on the Plus Products Notes as of September 13, 2021 ($20,504,850.96), in the form of 20,005 unsecured convertible Purchaser Notes by Purchaser in accordance with the Purchaser Note Indenture to be entered into on or before the Closing Date. · pct of: principal · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: debtor · class label: Noteholders (Purchaser Notes) · claims amount: 20504850.96 · interim final: unstated · claims qualifier: unstated · stated on: 2021-12-17 · table missing: