Quebec · CCAA
Forty Fourth Report of the Monitor
Court officer report · 19 January 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: | Scenario 1 Scenario 2 Distribution $M CQIM/Quinto 71.92 105.03 BL Parties 13.80 25.31 Wabush Mines Parties 0.23 20.41 Arnaud 0.04 15.69 Wabush Railway 0.09 0.10 Total 86.08 166.54 Distribution % CQIM/Quinto 10.09% 14.87% BL Parties 1.84% 3.51% Wabush Mines Parties 0.09% 9.65% Arnaud 0.09% 18.67% Wabush Railway 0.09% 0.10% | · pct of: unstated · outcome: distribution · pct low: 10.09 · pct high: 10.09 · class key: unsecured · stated by: monitor · class label: Affected Third Party Unsecured Creditors of CQIM/Quinto Parties (Plan, Scenario 1) · creditor name: CQIM/Quinto · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | Scenario 1 Scenario 2 Distribution $M CQIM/Quinto 71.92 105.03 BL Parties 13.80 25.31 Wabush Mines Parties 0.23 20.41 Arnaud 0.04 15.69 Wabush Railway 0.09 0.10 Total 86.08 166.54 Distribution % CQIM/Quinto 10.09% 14.87% BL Parties 1.84% 3.51% Wabush Mines Parties 0.09% 9.65% Arnaud 0.09% 18.67% Wabush Railway 0.09% 0.10% | · pct of: unstated · outcome: distribution · pct low: 14.87 · pct high: 14.87 · class key: unsecured · stated by: monitor · amount low: 105.03 · amount high: 105.03 · class label: Affected Third Party Unsecured Creditors of CQIM/Quinto Parties (Plan, Scenario 2) · creditor name: CQIM/Quinto · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As the Pension Claims exceed the aggregate of realizations available to creditors of the Wabush CCAA Parties after application of the Allocation Methodology, there would be no monies available for distribution to Affected Unsecured Creditors of the Wabush CCAA Parties in Scenario 1 other than the share of the Non-Filed Affiliate Cash Contribution allocated to the Unsecured Creditor Cash Pools for the Wabush Mines Parties Unsecured Creditor Class, the Arnaud Unsecured Creditor Class and the Wabush Railway Unsecured Creditor Class. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Unsecured Creditors of the Wabush CCAA Parties (Plan, Scenario 1) · interim final: unstated · conditional on: other than the share of the Non-Filed Affiliate Cash Contribution allocated to the Unsecured Creditor Cash Pools · claims qualifier: unstated; basis: plan · quote: In Scenario 1, the estimated distribution on account of the Pension Claims is approximately $46.0 million. · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: monitor · class label: Pension Claims (Scenario 1, distribution) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Given the shortfall on account of claims of Affected Unsecured Creditors, in the Monitor's view the treatment of shareholders is justified, fair and reasonable. · pct of: unstated · outcome: shortfall · class key: equity · stated by: monitor · class label: Affected Unsecured Creditors (shortfall justifying no shareholder recovery) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Plan does not provide for any payment on account of Equity Claims and such claims will be fully, finally, irrevocably and forever compromised, released, discharged, cancelled and barred. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: Equity Interests · interim final: unstated · claims qualifier: unstated · table missing: