Quebec · CCAA
Order sanction of the Amended Plan of Compromise and Arrangement. – dated February 27, 2012
Plan sanction / final order · 27 February 2012
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- presiding officerJustice Jean-Yves Lalonde
- recovery outcomeentries: basis: plan · quote: (i) any such Proven Claim in excess of $ 1,000.00 shall be deemed, for all purposes, to have been irrevocably and unconditionally reduced to $ 1,000.00 and the Affected Creditor having a Proven Claim in excess of $ 1,000.00 shall be deemed to have irrevocably and unconditionally waived and renounced to any rights to participate in any further distribution; · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: debtor · amount low: 1000 · amount high: 1000 · class label: Electing Creditor · interim final: unstated · conditional on: any such Proven Claim in excess of $1,000.00 shall be deemed to have been irrevocably reduced to $1,000.00, waiving rights to further distribution · currency quote: Canadian dollars · claims qualifier: unstated; basis: plan · quote: (ii) an amount of $ 1,000,000, less all amounts set forth in e eol p t eol t ohe Monitor on or before the First Instalment Date, for distribution to all Affected Creditors (other than Electing Creditors) as herein set forth; · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: debtor · amount low: 6000000 · amount high: 6000000 · class label: Affected Creditors (other than Electing Creditors) · interim final: unstated · conditional on: distributed pro rata according to the amounts of their respective Proven Claims across six instalments · currency quote: Canadian dollars · claims qualifier: unstated; basis: plan · quote: On or before the Plan Implementation Date, the DIP Lender shall receive full payment in cash of the DIP Claim. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: DIP Lender · creditor name: DIP Lender · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Subject to Section 3.1 hereof, the other Excluded Claims and any Insurance Claim will remain in full force and effect in accordance with their terms after the Plan Implementation Date, and will be paid in full by the Petitioner in the normal course of its operations as and when they become due. · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: Excluded Claims and Insurance Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Administration Claims, and all D&O Claims, if any, will be paid in full by the Petitioner as and when they become due, and any remaining balance will be settled as soon as practicable after the issuance of the Certificate of Performance. · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: Administration Claims and D&O Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Within six months after the Plan Implementation Date, all Crown Claims will be paid in full by the Petitioner. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Any Persons holding an Equity Claim shall not be entitled to receive any payment, compensation or distribution hereunder with respect to their Equity Claims, and any Claims that any such Persons may have that are directly or indirectly related to or are derived from such Equity Claims shall be deemed to be released in full. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Equity Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: If an Affected Creditor holding an Affected Claim has failed to file its Proof of Claim prior to the relevant Claims Bar Date or Restructuring Claims Bar Date and has not been permitted to file a late claim pursuant to an Order, that Affected Creditor shall be barred from voting at the Creditors'Meeting and the Affected Creditor shall have no right to receive a distribution, and the Petitioner shall be released from the Affected Claims of such Creditor and Section 6.2 of this Plan shall apply to all such Affected Claims. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: Affected Creditor who failed to file Proof of Claim · interim final: unstated · conditional on: failed to file Proof of Claim prior to relevant Claims Bar Date and not permitted to file late claim · claims qualifier: unstated · stated on: 2012-02-27 · table missing: