Quebec · CCAA
Application for a Sanction Order
Plan sanction / final order · 30 September 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: liquidation_alternative · quote: In a bankruptcy context, it is estimated that Groupe Dynamite's unsecured creditors' recovery would be nil, whereas under the Plan, said unsecured creditors will benefit from a dividend equivalent to at least 7% of their Affected Proven Claim, based on the amount of the Aifected Proven Claims as of September 30, 2021, the whole as appears from the Monitor's Plan Report (Exhibit P-3). · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In a bankruptcy context, it is estimated that Groupe Dynamite's unsecured creditors' recovery would be nil, whereas under the Plan, said unsecured creditors will benefit from a dividend equivalent to at least 7% of their Affected Proven Claim, based on the amount of the Aifected Proven Claims as of September 30, 2021, the whole as appears from the Monitor's Plan Report (Exhibit P-3). · pct of: proven_claims · outcome: distribution · pct low: 7 · pct high: 7 · class key: unsecured · stated by: debtor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The principal shareholder of Groupe Dynamite, which holds a promissory note in the amount of $60 million issued by Groupe Dynamite, will not benefit from any distribution under the Plan as the implementation of the Plan is conditional upon the release and dischatge from any obligation of Groupe Dynamite pursuant to such promissory note. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: principal shareholder (promissory note) · interim final: unstated · conditional on: the implementation of the Plan is conditional upon the release and discharge from any obligation of Groupe Dynamite pursuant to such promissory note · claims qualifier: unstated · stated on: 2021-09-30 · table missing: