Ontario · CCAA
VON Restructuring Update – "Plan of Arrangement; dated October 20, 2016
Plan of arrangement / compromise · 20 October 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The Monitor report states that if the Plan is accepted by creditors (and subsequently by the Court), creditors will receive between 7.45 and 9.1 cents for each dollar owed. · pct of: unstated · outcome: distribution · pct low: 7.45 · pct high: 9.1 · class key: unsecured · stated by: monitor · class label: VON Canada creditors · interim final: unstated · conditional on: if the Plan is accepted by creditors and subsequently by the Court · claims qualifier: unstated; basis: liquidation_alternative · quote: The report goes on to say that if the Plan is not accepted, and should VON Canada be forced to liquidate, only between 3.49 and 5.25 cents could be paid for each dollar owed. · pct of: unstated · outcome: distribution · pct low: 3.49 · pct high: 5.25 · class key: unsecured · stated by: monitor · class label: VON Canada creditors · interim final: unstated · conditional on: if the Plan is not accepted, and should VON Canada be forced to liquidate · claims qualifier: unstated; basis: plan · quote: All creditors owed $5,000 or less have been included in what is called a 'Convenience Class', meaning that, should the Plan be accepted and approved, they will receive the full amount they are owed. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Convenience Class · interim final: unstated · conditional on: should the Plan be accepted and approved; creditors owed $5,000 or less · claims qualifier: unstated · stated on: 2016-10-20 · table missing: