Ontario · CCAA
Motion to Recognize Sanction Order
Application / notice of application · 1 December 2020
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: estimated · quote: 75. Assuming the foregoing, this would result in an estimated recovery on claims filed, before consideration of the Unresolved Claims Reserve, of 18% on a preliminary basis. · pct of: unstated · outcome: distribution · pct low: 18 · pct high: 18 · class key: unsecured · stated by: monitor · class label: Affected Creditors · claims amount: 29000000 · interim final: unstated · conditional on: preliminary basis, before consideration of the Unresolved Claims Reserve · claims qualifier: estimated; basis: liquidation_alternative · quote: the Liquidation Analysis indicates that the estimated range of liquidation values is anticipated to result in a significant shortfall to the secured creditors, and no recovery for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: the Liquidation Analysis indicates that the estimated range of liquidation values is anticipated to result in a significant shortfall to the secured creditors, and no recovery for unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Holders of Equity Claims will not receive a distribution or other consideration under the Plan and will not be entitled to vote on the Plan in respect of their Equity Claims. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: holders of Equity Claims · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: are anticipated to ultimately recover their Tooling Claim in full following the Plan Implementation Date, subject to Tooling Receipts being paid by customers. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: tooling suppliers (Tooling Claims) · claims amount: 2200000 · interim final: unstated · conditional on: subject to Tooling Receipts being paid by customers · claims qualifier: unstated · stated on: 2020-11-16 · table missing: