Ontario · CCAA
Plan Sanction Order
Plan sanction / final order · 27 March 2018
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 · 1 withheld
- recovery outcomeentries: basis: plan · quote: On the Implementation Date, in accordance with this Plan and in accordance with the steps and in the sequence set forth in Section 7.2, each Proven Affected Banro Unsecured Creditor shall be entitled to receive a pro rata distribution from the Affected Banro Unsecured Pool. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · class label: Affected Banro Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Notwithstanding section 4.2(a) above, each Proven Affected Banro Unsecured Creditor with respect to its Affected Banro Unsecured Deficiency Claim waives their right under this Plan to receive any distribution from the Affected Banro Unsecured Pool. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: Proven Affected Banro Unsecured Creditor (Deficiency Claim) · interim final: unstated · conditional on: waives right to receive any distribution from the Affected Banro Unsecured Pool with respect to its Affected Banro Unsecured Deficiency Claim · claims qualifier: unstated; basis: plan · quote: Subject to the Effective Time occurring: (i) all Crown Priority Claims that were outstanding as at the Filing Date shall be paid in full by the Monitor on behalf of the Applicants, from the Priority Claim Reserve within six months after the Sanction Order, as required by subsection 6(3) of the CCAA; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · conditional on: Subject to the Effective Time occurring · claims qualifier: unstated; basis: plan · quote: (ii) all Employee Priority Claims to the extent unpaid prior to the Implementation Date shall be paid by the Monitor, on behalf of the Applicants, from the Priority Claim Reserve immediately after the Sanction Order as required by subsection 6(5) of the CCAA. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Priority Claims · interim final: unstated · conditional on: Subject to the Effective Time occurring · claims qualifier: unstated; basis: plan · quote: Holders of Affected Equity Claims or Equity Interests shall not receive any consideration or distributions under this Plan and shall not be entitled to vote on this Plan at the Creditors' Meetings and existing shares of Banro shall be cancelled and shall be deemed to be cancelled without compensation. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Affected Equity Claims / Equity Interests · interim final: unstated · claims qualifier: unstated · table missing: (b) The Monitor shall hold the Priority Claim Reserve in the Priority Claim Reserve Account for the purpose of paying the Priority Claims in accordance with this Plan and shall distribute any remaining balance in the Priority Claim Reserve Account to the Applicants, in accordance with section 7.3 of this Plan.
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.