Ontario · Foreign recognition (CCAA)
Fifth Report of the Information Officer (July 20, 2020)
Court officer report · 20 July 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 filing4 verified
- operational summaryThe report addresses the Chapter 11 Debtors' Amended Disclosure Statement and Liquidating Plan, which contemplates liquidation and pro-rata distribution of sale proceeds to creditors, with general unsecured creditors expected to recover 0%.
- recovery outcomeentries: basis: plan · quote: payment in full of DIP Claims; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: monitor · class label: DIP Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: with respect to the remaining distributable proceeds, 88% will be paid to holders of Term Loan Claims and 12% will be paid to holders of Administrative Claims and other priority claims. · pct of: unstated · outcome: distribution · pct low: 88 · pct high: 88 · class key: secured · stated by: monitor · class label: Term Loan Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: with respect to the remaining distributable proceeds, 88% will be paid to holders of Term Loan Claims and 12% will be paid to holders of Administrative Claims and other priority claims. · pct of: unstated · outcome: distribution · pct low: 12 · pct high: 12 · class key: preferred · stated by: monitor · class label: Administrative Claims and other priority claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: general unsecured creditors will be paid their pro-rata share of the distributable proceeds only if all senior claims are paid in full, including the Term Loan Claims. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: general unsecured creditors · interim final: unstated · conditional on: only if all senior claims are paid in full, including the Term Loan Claims · claims qualifier: unstated; basis: plan · quote: 10% - 40% · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 40 · class key: preferred · stated by: monitor · class label: Other Priority Claims · interim final: unstated · claims qualifier: unstated · stated on: 2020-07-20 · table missing:
- report date20 July 2020
- report noFifth Report