Quebec · CCAA
Report of the Monitor with respect to an Application for the second postponement fo the delay to make the distributions under the sanctioned Plan of Arrangement – dated October 8, 2010
Plan of arrangement / compromise · 8 October 2010
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: liquidation_alternative · quote: Should the Petitioners be declared Bankrupt, no dividend will be paid to preferred and unsecured creditors, as the existing secured debt is significantly higher to the potential liquidation value of the assets. · pct of: unstated · outcome: nil · class key: preferred · stated by: monitor · class label: preferred and unsecured creditors · interim final: unstated · conditional on: Should the Petitioners be declared Bankrupt · claims qualifier: unstated; basis: liquidation_alternative · quote: in a bankruptcy situation, the unsecured creditors would definitively receive nothing given that all of the Petitioners' assets are pledged in favour of the secured creditors, who are owed significantly more than the estimated realizable liquidation value of the said assets; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · conditional on: in a bankruptcy situation · claims qualifier: unstated · stated on: 2010-08-03 · table missing: