Quebec · CCAA
Report of the Monitor for the purpose of the sanction of the Amended Plan of Compromise and Arrangement – dated February 21, 2012
Court officer report · 21 February 2012
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 filing3 verified
- operational summaryHart Stores continues to operate its remaining department stores across several provinces after closing 32 underperforming locations, with about 969 active employees, while pursuing refinancing with a new lender as part of its CCAA restructuring.
- recovery outcomeentries: basis: plan · quote: Any Excluded Creditors and Secured Creditors were not entitled to vote at the Meeting of Creditors and shall not receive any distributions in respect of their Excluded Claims or Secured Claims. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Excluded Creditors and Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The recovery under the Amended Plan is estimated to range between 19% and 23% of the estimated total Proven Claims. · pct of: proven_claims · outcome: distribution · pct low: 19 · pct high: 23 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2012-02-21 · table missing:
- report date21 February 2012