Ontario · CCAA
Revised Plan Sanction Order - Clean
Plan sanction / final order · 23 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 filing2 verified
- presiding officerJustice Hainey
- recovery outcomeentries: basis: plan · quote: On the Implementation Date, in accordance with this Plan and in accordance with the steps and in the sequence set forth in Section 7.2, each Proven Affected Banro Unsecured Creditor shall be entitled to receive a pro rata distribution from the Affected Banro Unsecured Pool. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · class label: Affected Banro Unsecured Claim · interim final: unstated · claims qualifier: unstated; basis: plan · quote: all Crown Priority Claims that were outstanding as at the Filing Date shall be paid in full by the Monitor on behalf of the Applicants, from the Priority Claim Reserve within six months after the Sanction Order, as required by subsection 6(3) of the CCAA · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: all Employee Priority Claims to the extent unpaid prior to the Implementation Date shall be paid by the Monitor, on behalf of the Applicants, from the Priority Claim Reserve immediately after the Sanction Order as required by subsection 6(5) of the CCAA · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Holders of Affected Equity Claims or Equity Interests shall not receive any consideration or distributions under this Plan and shall not be entitled to vote on this Plan at the Creditors' Meetings and existing shares of Banro shall be cancelled and shall be deemed to be cancelled without compensation. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Affected Equity Claims and Equity Interests · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Excluded Creditors in respect to and to the extent of their Excluded Claims shall not receive any consideration under this Plan in respect of their Excluded Claims. · pct of: unstated · outcome: nil · stated by: debtor · class label: Excluded Creditors · interim final: unstated · claims qualifier: unstated · table missing: