Ontario · NOI
Book of Authorities of the Applicant (Approval of the Sale Transaction) – dated July 14, 2016
Application / notice of application · 14 July 2016
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The evidence before me was that the security of FKCC is in a shortfall position, such that any deemed bankruptcy flowing from a failure of the proposal process would result in no funds for ordinary unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: court · class label: ordinary unsecured creditors · interim final: unstated · conditional on: any deemed bankruptcy flowing from a failure of the proposal process · claims qualifier: unstated; basis: plan · quote: The Senior Lenders would be unaffected creditors and would be paid in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: court · class label: Senior Lenders · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Senior Lenders will received 100 cents on the dollar; · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: secured · stated by: monitor · class label: Senior Lenders · interim final: unstated · cents on dollar: 100 · claims qualifier: unstated; basis: estimated · quote: The two secured creditors will suffer a shortfall of approximately $50 million. · pct of: unstated · outcome: shortfall · class key: secured · stated by: court · class label: the two secured creditors (CCFL and the Royal Bank of Canada) · interim final: unstated · claims qualifier: unstated · shortfall amount: 50000000 · stated on: 2016-07-14 · table missing: