Ontario · CCAA
Third Report of the Information Officer
Court officer report · 19 September 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: liquidation_alternative · quote: For secured creditors, 61%-71% in a liquidation versus 98.8% under the Sale Transaction; and · pct of: unstated · outcome: distribution · pct low: 61 · pct high: 71 · class key: secured · stated by: debtor · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: For secured creditors, 61%-71% in a liquidation versus 98.8% under the Sale Transaction; and · pct of: unstated · outcome: distribution · pct low: 98.8 · pct high: 98.8 · class key: secured · stated by: debtor · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: For unsecured creditors, no recovery in a liquidation versus a 3.0% recovery under the Sale Transaction. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: For unsecured creditors, no recovery in a liquidation versus a 3.0% recovery under the Sale Transaction. · pct of: unstated · outcome: distribution · pct low: 3 · pct high: 3 · class key: unsecured · stated by: debtor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: FILO DIP x Paid in full in cash · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: FILO DIP · creditor name: FILO DIP · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Term Loan DIP ($100 million 'new money') x Paid in full in cash · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Term Loan DIP ($100 million 'new money') · creditor name: Term Loan DIP · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Other Priority Claims: Allowed Other Priority Claims shall be generally paid in full in cash unless otherwise agreed. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Other Priority Claims · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Other Secured Claims: Allowed Other Secured Claims shall be paid in full in cash, receive the collateral securing its Allowed Other Secured Claim or receive any other treatment that would render such Claim unimpaired. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Other Secured Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In the event of a Restructuring, each Claim will be cancelled, released, discharged and extinguished and shall receive no recovery on account of such claims. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: General Unsecured Claims, Convertible Unsecured Notes Claims, and Tranche B-2 Term Loan Deficiency Claims (if Class 4 Conditions not met, in event of a Restructuring) · interim final: unstated · conditional on: If the Class 4 Conditions have not been met, in the event of a Restructuring · claims qualifier: unstated; basis: plan · quote: Subordinated Securities Claims: Whether in the event of a Sale Transaction or Restructuring, Claims, shall be extinguished and receive no recovery or distribution. · pct of: unstated · outcome: nil · stated by: debtor · class label: Subordinated Securities Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Intercompany Interests: No recovery or distribution, and in the event of a Restructuring, will be Reinstated solely to the extent necessary to maintain the Debtors' corporate structure, and in the event of a Sale Transaction, be treated in such manner as determined by the Successful Bidder. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: Intercompany Interests · interim final: unstated · related party: true · claims qualifier: unstated; basis: plan · quote: Equity Interests: No distribution on account of Equity Interests, which will be extinguished with no further force or effect. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Equity Interests · interim final: unstated · claims qualifier: unstated · table missing: