Ontario · CCAA
Endorsement, Plan Sanction Order Typed Reasons
Plan sanction / final order · 30 January 2015
What we verified from this filing2 verified
- presiding officerJustice G.B. Morawetz
- recovery outcomeentries: basis: plan · quote: Equity claimants will not receive any consideration or distributions under the Plan. · pct of: unstated · outcome: nil · class key: equity · stated by: court · class label: Equity claimants · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Applicants report that after further discussions, agreement was reached with Class Action Counsel on the form of a resolution that provides for an enhanced recovery for the WARN Act Plaintiffs Class of $210,000 (with$90,000 paid on the Plan implementation date)as opposed to the recovery offered in the Original Plan of $100,000 payable in eight years from the Plan implementation date. · pct of: unstated · outcome: distribution · currency: USD · class key: unsecured · stated by: debtor · amount low: 210000 · amount high: 210000 · class label: WARN Act Plaintiffs Class · claims amount: 3700000 · creditor name: WARN Act Plaintiffs · interim final: unstated · conditional on: $90,000 paid on the Plan implementation date, balance thereafter · currency quote: U.S. $3.7 million · claims qualifier: asserted; basis: plan · quote: the Recapitalization provides a limited recovery for unsecured creditors and the WARN Act Plaintiffs; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: court · class label: unsecured creditors and the WARN Act Plaintiffs · interim final: unstated · claims qualifier: unstated · stated on: 2015-01-30 · table missing: