Ontario · CCAA
Motion Record (Returnable June 11 2010)
Application / notice of application · 11 June 2010
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What we verified from this filing1 verified
- recovery outcomeentries: basis: liquidation_alternative · quote: Other than employees that may receive payment with respect to unpaid severance and/or termination pay pursuant to the Wage Earner Protection Program and a potential payment to Signature's wound up Ontario pension plans from the Ontario Pension Benefit Guarantee Fund, the Monitor concluded that unsecured creditors would receive no recovery in a bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · conditional on: Other than employees that may receive payment with respect to unpaid severance and/or termination pay pursuant to the Wage Earner Protection Program and a potential payment to Signature's wound up Ontario pension plans from the Ontario Pension Benefit Guarantee Fund · claims qualifier: unstated; basis: liquidation_alternative · quote: The Marketing Process did not identify a going concern offer for Signature's business and an independent valuation conducted by the Monitor evidenced that the secured creditors of Signature would suffer a significant shortfall in a liquidation. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: "Base Distribution" means, for each Proven Claim, (i) 100% of the amount of the Proven Claim that is less than or equal to CDN$1000, plus (ii) 50% of the amount of the Proven Clam that is greater than CDN$1,000 and less than or equal to CDN$5,750; · pct of: proven_claims · outcome: distribution · pct low: 100 · currency: CAD · pct high: 100 · class key: unsecured · stated by: debtor · class label: each Proven Claim · interim final: unstated · conditional on: 100% of the amount of the Proven Claim that is less than or equal to CDN$1000, plus 50% of the amount greater than CDN$1,000 and less than or equal to CDN$5,750 · currency quote: CDN$1000 · claims qualifier: unstated; basis: plan · quote: All Crown Claims in respect of all amounts that were outstanding at the Filing Date or related to the period ending on the Filing Date shall be paid in full to the Crown within six months of the Sanction Order, as required by section 6(3) of the CCAA. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: debtor · class label: Crown Claims · interim final: unstated · claims qualifier: unstated · table missing: