Ontario · CCAA
Notice of Motion - Returnable August 9, 2022
Application / notice of application · 29 July 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: All Affected General Unsecured Creditors with a Proven Claim will receive 70% of the amount of such Proven Claim on the Plan Implementation Date, with the remaining 30% payable on the earlier of (A) the closing of the sale of all remaining residential units at the Sheddon Project, and (B) eight months from the Plan Implementation Date; and · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · class label: Affected General Unsecured Creditors · interim final: unstated · conditional on: 70% of the amount of such Proven Claim on the Plan Implementation Date, with the remaining 30% payable on the earlier of (A) the closing of the sale of all remaining residential units at the Sheddon Project, and (B) eight months from the Plan Implementation Date · claims qualifier: unstated; basis: plan · quote: The Funded Debt Unsecured Creditor (which consists of Halmont, as the assignee of the unsecured Claim held by Roppongi), will receive (A) an amount equal to 100% of its Claim on no later than June 30, 2025 and (B) guarantees from the Boreal Entities and charges on the Real Properties in an amount sufficient to secure the Funded Debt Claims; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: debtor · class label: Funded Debt Unsecured Creditor · creditor name: Halmont · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | DIP Lender's Claim | Repaid in full in cash on Plan Implementation Date · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: DIP Lender's Claim · creditor name: Halmont · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | CCAA Charge beneficiaries and CCAA Priority Payment Claims | Repaid in full in cash on Plan Implementation Date · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: CCAA Charge beneficiaries and CCAA Priority Payment Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | Equity Claims | No recovery · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Equity Claims · interim final: unstated · claims qualifier: unstated · table missing: