Ontario · Foreign recognition (CCAA)
Information Officer's Third Report
Court officer report · 8 March 2018
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 filing4 verified
- operational summaryThe report is a recognition-proceeding report on the Chapter 11 Plan: Takata's businesses continue as a going concern, with substantially all non-PSAN assets being sold to the Plan Sponsor (Joyson KSS) under the plan and about 14,000 employees' jobs preserved. Certain PSAN-related assets stay with the Reorganized Debtors to continue limited PSAN inflator production for recalls.
- recovery outcomeentries: basis: plan · quote: There was also one claim filed on a secured basis which falls within Class 1 of the Chapter 11 Plan and, to the extent allowed, will be paid in full under the Chapter 11 Plan. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: Class 1 (secured claim) · interim final: unstated · conditional on: to the extent allowed · claims qualifier: unstated; basis: plan · quote: The Chapter 11 Plan provides for an approximate recovery of 0.1% of 0.4% to holders of General Unsecured Claims whether the Claims are included in Class 4 (OEM Unsecured Claim), Class 5 (PSAN PI/WD Claims), Class 6 (Other General Unsecured Claims), or Class 7 (Other PI/WD Claims). · pct of: unstated · outcome: distribution · pct low: 0.1 · pct high: 0.4 · class key: unsecured · stated by: monitor · class label: General Unsecured Claims (Class 4, 5, 6, or 7) · interim final: unstated · claims qualifier: unstated · table missing:
- report date8 March 2018
- report noThird Report