Ontario · CCAA
Thirty-Ninth Report of the Monitor
Court officer report · 2 May 2017
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 filing5 verified
- secured creditorsnote: Related party (indirect parent company of USSC). Approximate figure ('approximately U.S. $127.2 million'); CAD equivalent stated as approximately CAD $169 million assuming a May 31, 2017 closing date and using the exchange rate as of the meeting date. To be paid in full as an Unaffected Claim under the Plan. · page: 15 · as of: April 27, 2017 (meeting date, using exchange rate as of that date) · amount: 127200000 · debtor: U. S. Steel Canada Inc. · creditor: United States Steel Corporation (USS) · currency: USD · security: Secured Claims (unaffected under the Plan)
- secured creditorsnote: Amount stated as that required to satisfy all obligations and liabilities of USSC to the DIP Lender; to be paid on the Plan Implementation Date as an Unaffected Claim. · page: 15 · amount: 3000000 · debtor: U. S. Steel Canada Inc. · creditor: DIP Lender · currency: CAD · security: DIP financing charge
- secured creditorsnote: Approximate aggregate figure ('approximately $16 million'), consisting of components: approximately $10 million for Hamilton and approximately $6 million for Haldimand (components not summed by document beyond the stated aggregate). Unaffected Claim to be paid in full under the Plan. · page: 16 · amount: 16000000 · debtor: U. S. Steel Canada Inc. · creditor: City of Hamilton and Haldimand County (Secured Municipal Tax Claim holders) · currency: CAD · security: Secured Municipal Tax Claim
- secured creditorsnote: Approximate aggregate figure ('approximately $11 million'); Unaffected Claim to be paid in full under the Plan. · page: 16 · amount: 11000000 · debtor: U. S. Steel Canada Inc. · creditor: Construction Lien Claim holders · currency: CAD · security: Construction Lien
- secured creditorsnote: Approximate figure ('approximately $20 million, in addition to the DIP'); to be paid in full at or before the Effective Time. · page: 16 · amount: 20000000 · debtor: U. S. Steel Canada Inc. · creditor: Beneficiaries of CCAA Charges (Court-ordered priority charges) · currency: CAD · security: CCAA Charges (Court-ordered priority charges, in addition to the DIP Charge)