Ontario · CCAA
CCAA Amended Plan of Arrangement
Plan of arrangement / compromise · 10 June 2022
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 filing1 verified
- recovery outcomeentries: basis: plan · quote: Holders of Equity Claims will not receive a distribution or other consideration under the Plan and will not be entitled to vote on the Plan in respect of their Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Holders of Equity Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: on the later of (i) the Plan Implementation Date, or (ii) when due, or such later date in accordance with Section 6.4 in respect of any Unresolved Claim that becomes a Proven Claim, if any, an amount equal to 70% of such Distribution Creditor's Proven Claim; and · pct of: proven_claims · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Affected General Unsecured Creditors (Distribution Creditors) · interim final: unstated · conditional on: 70% of Proven Claim on the later of the Plan Implementation Date or when due; 30% on the earlier of the closing of the sale of remaining residential units at the Sheddon Project or eight months from the Plan Implementation Date · claims qualifier: unstated; basis: plan · quote: an amount equal to 100% of such Funded Debt Claims, including all accrued interest and fees, on no later than June 30, 2025; and · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Funded Debt Unsecured Creditor · interim final: unstated · claims qualifier: unstated; basis: plan · quote: payment in full of all amounts outstanding that are secured by the CCAA Charges; and · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: debtor · class label: Unaffected Creditors (DIP Lender, CCAA Charges holders, CCAA Priority Payment Claim holders) · interim final: unstated · claims qualifier: unstated · stated on: 2022-06-10 · table missing: