Ontario · CCAA
Book of Authorities of the Applicants returnable November 10, 2016
Application / notice of application · 10 November 2016
What we verified from this filing1 verified
- recovery outcomeentries: basis: unstated · quote: Based on the Monitor's preliminary analysis, the Plan provides for recoveries for Affected Creditors generally in the range of 75% to 85% of their proven claims. · pct of: proven_claims · outcome: distribution · pct low: 75 · pct high: 85 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As such, Landlord Guarantee Creditors will be paid 100% of their Landlord Restructuring Period Claims, valued in accordance with the Landlord Formula Amount. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: landlord · stated by: debtor · class label: Landlord Guarantee Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Plan entitles Affected Creditors holding proven claims that are less than or equal to $25,000 ("Convenience Class Creditors") to be paid in full; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: debtor · amount low: 25000 · amount high: 25000 · class label: Convenience Class Creditors · interim final: unstated · conditional on: proven claims that are less than or equal to $25,000 to be paid in full · claims qualifier: unstated; basis: estimated · quote: The Monitor reports that the Secured Lenders are thus estimated to recover approximately 57.1% of their estimated claims of US $2.1 billion on secured working capital claims and 73.3% of their estimated claims of US $811 million on secured revolver/term claims. · pct of: unstated · outcome: distribution · pct low: 57.1 · currency: USD · pct high: 57.1 · class key: secured · stated by: monitor · class label: Secured Lenders (secured working capital claims) · claims amount: 2100000000 · creditor name: Secured Lenders · interim final: unstated · currency quote: US $2.1 billion · claims qualifier: estimated; basis: estimated · quote: The Monitor reports that the Secured Lenders are thus estimated to recover approximately 57.1% of their estimated claims of US $2.1 billion on secured working capital claims and 73.3% of their estimated claims of US $811 million on secured revolver/term claims. · pct of: unstated · outcome: distribution · pct low: 73.3 · currency: USD · pct high: 73.3 · class key: secured · stated by: monitor · class label: Secured Lenders (secured revolver/term claims) · claims amount: 811000000 · creditor name: Secured Lenders · interim final: unstated · currency quote: US $811 million · claims qualifier: estimated; basis: estimated · quote: The Monitor estimates that the Secured Lenders will recover no value on their deficiency claims, assuming no reallocation of equity from other categories of debtors and no value for the litigation trust. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Secured Lenders (deficiency claims) · creditor name: Secured Lenders · interim final: unstated · conditional on: assuming no reallocation of equity from other categories of debtors and no value for the litigation trust · claims qualifier: unstated; basis: estimated · quote: for an estimated recovery of 8.34% on their claims of US $610 million under the U.S. plan, assuming all classes of Noteholders approve the plan and no value is given to the litigation trust. · pct of: unstated · outcome: distribution · pct low: 8.34 · currency: USD · pct high: 8.34 · class key: unsecured · stated by: monitor · class label: Noteholders (US $600 million bonds) · claims amount: 610000000 · creditor name: Noteholders · interim final: unstated · conditional on: assuming all classes of Noteholders approve the plan and no value is given to the litigation trust · currency quote: US $610 million · claims qualifier: estimated; basis: estimated · quote: The Monitor reports that it expects recovery to general unsecured creditors under the U.S. Plan to be 2.09°A of their claim. · pct of: unstated · outcome: distribution · pct low: 2.09 · currency: USD · pct high: 2.09 · class key: unsecured · stated by: monitor · class label: general unsecured creditors (U.S. Plan) · claims amount: 811000000 · interim final: unstated · currency quote: US $811 million · claims qualifier: estimated; basis: estimated · quote: Ordinary unsecured creditors will receive cash subject to a maximum total payment of 4% of their proven claims. · pct of: proven_claims · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: ordinary unsecured creditors (SemCAMS plan) · interim final: unstated · conditional on: unless claims in excess of the current highest estimate are established · claims qualifier: unstated; basis: estimated · quote: Again, the distribution to ordinary unsecured creditors is estimated to be 4% of claims unless claims in excess of the current highest estimate against SemCanada Crude are established. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: ordinary unsecured creditors (SemCanada Crude plan) · interim final: unstated · conditional on: unless claims in excess of the current highest estimate against SemCanada Crude are established · claims qualifier: unstated; basis: estimated · quote: The Monitor estimates that the distribution to ordinary unsecured creditors will be in the range of 2.16% to 2.27% of their claims, unless claims in excess of the current maximum estimate are established. · pct of: unstated · outcome: distribution · pct low: 2.16 · pct high: 2.27 · class key: unsecured · stated by: monitor · class label: ordinary unsecured creditors (SemCanada Energy plan) · interim final: unstated · conditional on: unless claims in excess of the current maximum estimate are established · claims qualifier: unstated; basis: plan · quote: The Plan offers the Senior Secured Noteholders payment of 97 cents on the dollar. · pct of: unstated · outcome: distribution · pct low: 97 · currency: USD · pct high: 97 · class key: secured · stated by: debtor · class label: Senior Secured Noteholders · claims amount: 175000000 · creditor name: Senior Secured Noteholders · interim final: unstated · currency quote: US$175,000,000 · cents on dollar: 97 · claims qualifier: unstated; basis: unstated · quote: Resurgence submitted that only the Unsecured Noteholders received 14 cents on the dollar. · pct of: unstated · outcome: distribution · pct low: 14 · pct high: 14 · class key: unsecured · stated by: court · class label: Unsecured Noteholders · creditor name: Unsecured Noteholders · interim final: unstated · cents on dollar: 14 · claims qualifier: unstated · table missing: