Ontario · CCAA
Ninth Report of the Monitor
Court officer report · 3 September 2020
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: Section 4.4 of the First Amended CCAA Plan provides that Crown Priority Claims will be paid in full within six (6) months after the Sanction Order, as required by section 6(3) of the CCAA. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: monitor · class label: Crown Priority Claims · interim final: unstated · conditional on: within six months after the Sanction Order · claims qualifier: unstated; basis: plan · quote: Section 4.4 of the First Amended CCAA Plan also provides that Employee Priority Claims will be paid in full immediately after the Sanction Order, as required by section 6(5) of the CCAA. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: monitor · class label: Employee Priority Claims · interim final: unstated · conditional on: immediately after the Sanction Order · claims qualifier: unstated; basis: liquidation_alternative · quote: There would be no funds available for a distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · conditional on: if the First Amended CCAA Plan were not implemented · claims qualifier: unstated; basis: liquidation_alternative · quote: If the First Amended CCAA Plan were not to be implemented, the Term Loan Lenders would be entitled to all of the funds currently held by the Payless Canada Entities, excluding amounts for valid claims subject to the Administration Charge and the D&O Charge. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · class label: Term Loan Lenders · creditor name: Term Loan Lenders · interim final: unstated · conditional on: if the First Amended CCAA Plan were not implemented; excluding amounts for valid claims subject to the Administration Charge and the D&O Charge · claims qualifier: unstated · stated on: 2020-09-03 · table missing: