Ontario · CCAA
Twelfth Report of the Monitor
Court officer report · 19 June 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: Affected Creditors with Proven Claims other than Convenience Creditors and Supporting Rack Landlords (the ' General Unsecured Claims ') received a distribution of approximately 71.9% of their respective Proven Claim · pct of: proven_claims · outcome: distribution · pct low: 71.9 · pct high: 71.9 · class key: landlord · stated by: monitor · cumulative: false · class label: Affected Creditors with Proven Claims other than Convenience Creditors and Supporting Rack Landlords (General Unsecured Claims) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the Monitor now estimates that creditors with General Unsecured Claims will receive incremental distributions of 6.6% to 7.7% of the quantum of their Proven Claim · pct of: unstated · outcome: distribution · pct low: 6.6 · pct high: 7.7 · class key: unsecured · stated by: monitor · cumulative: false · class label: General Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: These incremental distributions, together with the 71.9% distribution to creditors with General Unsecured Claims as part of the Initial Distribution, are expected to result in an aggregate distribution for General Unsecured Claims under the Plan in the range of approximately 78.5% to 79.6% (consistent with the estimated range of 78% to 80% provided in the Eleventh Report). · pct of: unstated · outcome: distribution · pct low: 78.5 · pct high: 79.6 · class key: unsecured · stated by: monitor · cumulative: true · class label: General Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: This Second Distribution would represent a distribution of approximately 6% of the quantum of the General Unsecured Claims. · pct of: unstated · outcome: distribution · pct low: 6 · pct high: 6 · class key: unsecured · stated by: monitor · amount low: 10500000 · cumulative: false · amount high: 10500000 · class label: General Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Collectively, the Initial Distribution and the Second Distribution will constitute an aggregate recovery of approximately 78% for each creditor with a General Unsecured Claim. · pct of: unstated · outcome: distribution · pct low: 78 · pct high: 78 · class key: unsecured · stated by: monitor · cumulative: true · class label: General Unsecured Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Persons holding Equity Claims shall not be entitled to vote at the Creditors' Meeting and shall not receive any distributions under the Plan or otherwise receive any other compensation in respect of their Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Equity Claims · interim final: unstated · claims qualifier: unstated · stated on: 2025-06-19 · table missing: