Quebec · CCAA
Plan of Arrangement – dated November 10, 2009
Plan of arrangement / compromise · 10 November 2009
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: Each Secured Creditor shall be paid the full amount of its Secured Claim, according to terms agreed to between those creditors and the Petitioners, on or after the Sanction Order. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Secured Creditor · interim final: unstated · conditional on: according to terms agreed to between those creditors and the Petitioners, on or after the Sanction Order · claims qualifier: unstated; basis: plan · quote: In accordance with subsection 6(3) of the CCAA, Crown Claims will be paid in full no later than six (6) months after the date of the Sanction Order. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Crown Claims · interim final: unstated · conditional on: no later than six (6) months after the date of the Sanction Order · claims qualifier: unstated; basis: plan · quote: The Petitioners will remit to the Monitor a total amount of $3 million (the "Basket") to be disbursed by way of distributions to Unsecured Creditors and to holders of Crown Claims. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 3000000 · amount high: 3000000 · class label: Unsecured Creditors · interim final: unstated · conditional on: $3 million Basket shared with holders of Crown Claims; creditor elects Option 1 (capped payment, $1,500) or Option 2 (pro rata share of the Basket balance in two distributions) · claims qualifier: unstated · table missing: