Ontario · CCAA
Book of Authorities (Motion for the Granting of the Sanction and Vesting Order) (September 20, 2017)
Application / notice of application · 20 September 2017
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Resurgence submitted that only the Unsecured Noteholders received 14 cents on the dollar. · pct of: unstated · outcome: distribution · pct low: 14 · pct high: 14 · class key: unsecured · stated by: unstated · class label: Unsecured Noteholders · creditor name: Unsecured Noteholders · interim final: unstated · cents on dollar: 14 · claims qualifier: unstated; basis: liquidation_alternative · quote: As described above, the alternative is liquidation and in that event the Unsecured Noteholders would receive between one and three cents on the dollar. · pct of: unstated · outcome: distribution · pct low: 1 · pct high: 3 · class key: unsecured · stated by: monitor · class label: Unsecured Noteholders (liquidation) · creditor name: Unsecured Noteholders · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Where secured creditors have compromised their claims and unsecured creditors are accepting 14 cents on the dollar in a potential pool of unsecured claims totalling possibly in excess of $1 billion, it is not unfair that shareholders receive nothing. · pct of: unstated · outcome: nil · class key: equity · stated by: unstated · class label: shareholders · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Existing Shareholders will not be entitled to any distributions under the Plan or other compensation from the CMI Entities on account of their equity interests in Canwest Global. · pct of: unstated · outcome: nil · class key: equity · stated by: unstated · class label: Existing Shareholders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: However, the downside is that, if not successful, then the corporation may end up being wound up and creditors may recover less than the approximately 42% recovery over five years that is estimated by the Monitor in a bankruptcy or other form of liquidation at this time. · pct of: unstated · outcome: distribution · pct low: 42 · pct high: 42 · class key: unsecured · stated by: monitor · class label: Nelson creditors (liquidation/bankruptcy estimate) · interim final: unstated · claims qualifier: unstated · table missing: