Quebec · CCAA
Sixteenth Report to the Court Submitted by Samson Bélair/Deloitte & Touche Inc. in its Capacity as Monitor
Court officer report · 6 October 2012
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: In the event that the Series 5 Mortgage Bondholders vote in favour of the resolution to approve the Supplemental Indenture, the Trustees will be authorized to release the Bond 5 Security upon receipt of cash proceeds of €2,25M payable upon Plan implementation (the ' Bond 5 Security Lump Sum Cash Payment '), as well as receipt of an unsecured corporate guarantee from HII or its successor to guarantee that the aggregate consideration received by the Series 5 Mortgage Bondholders - namely the Bond 5 Security Lump Sum Cash Payment and the dividend payable, in cash or equity, for their unsecured deficiency claim - total at least 50% of their total claims as determined pursuant to the Claims Process Order and the Plan. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · class label: Series 5 Mortgage Bondholders · creditor name: Series 5 Mortgage Bondholders · interim final: unstated · conditional on: In the event that the Series 5 Mortgage Bondholders vote in favour of the resolution to approve the Supplemental Indenture, the Trustees will be authorized to release the Bond 5 Security upon receipt of cash proceeds of €2,25M payable upon Plan implementation · claims qualifier: unstated; basis: unstated · quote: At the current time, as there appears to be no value in their collateral, no vote is required. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Series 6 Mortgage Bondholders · creditor name: Series 6 Mortgage Bondholders · interim final: unstated · claims qualifier: unstated · table missing: