British Columbia · CCAA
Plan of Arrangement - 14 Dec 2023
Plan of arrangement / compromise · 14 December 2023
Also filed as: Plan of Arrangement
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Unsecured Creditors with Proven Claims who are Convenience Creditors will receive the lesser or the value of their Proven Claim and $2,000. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 2000 · amount high: 2000 · class label: Unsecured Creditors who are Convenience Creditors · interim final: unstated · conditional on: lesser of the value of their Proven Claim and $2,000 · claims qualifier: unstated; basis: plan · quote: Unsecured Creditors who are not Convenience Creditors will receive two cents on the dollar on account of their Proven Claims up to a maximum of $25,000 per creditor. · pct of: proven_claims · outcome: distribution · pct low: 2 · pct high: 2 · class key: unsecured · stated by: debtor · class label: Unsecured Creditors who are not Convenience Creditors · interim final: unstated · conditional on: up to a maximum of $25,000 per creditor · cents on dollar: 2 · claims qualifier: unstated; basis: unstated · quote: Absent this Plan and the funding to be provided by a prospective lender pursuant to an Exit Financing Agreement, there will be no funds available for distribution to the Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: Unsecured Creditors · interim final: unstated · conditional on: Absent this Plan and the funding to be provided by a prospective lender pursuant to an Exit Financing Agreement · claims qualifier: unstated; basis: plan · quote: $32,500 to the Province of British Columbia in full and final satisfaction of the Province of British Columbia Secured Claim. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · amount low: 32500 · amount high: 32500 · class label: Province of British Columbia (Secured Claim) · creditor name: Province of British Columbia · interim final: unstated · claims qualifier: unstated; basis: plan · quote: CWB and BMO in accordance with their respective Restructuring Support Agreement in full and final satisfaction of their respective Secured Claims; and · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: CWB and BMO (Secured Claims) · creditor name: CWB and BMO · interim final: unstated · claims qualifier: unstated; basis: plan · quote: all Employee Priority Claims, if any, will be paid in such amounts as required under the CCAA immediately after the Plan Implementation Date; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: all Crown Priority Claims, if any, will be paid in full by the Debtors within six months immediately following the Sanction Date; and · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · conditional on: within six months immediately following the Sanction Date · claims qualifier: unstated · stated on: 2023-12-08 · table missing: