Ontario · CCAA
Eighth Report of the Information Officer
Court officer report · 25 April 2025
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What we verified from this filing5 verified
- cash on handnote: As of March 31, 2025, the Debtors held cash of approximately $645 million, and YRC Freight Canada held cash of approximately $4.0 million, which includes $2.8 million of sale proceeds controlled by the Information Officer. · as at: 2025-03-31 · amount: 4000000 · currency: USD · qualifier: approximately
- operational summaryThe Debtors are continuing the orderly wind-down of operations and sale of remaining real property and rolling stock assets, while pursuing a Chapter 11 Joint Plan settlement with the UCC to resolve outstanding claims disputes; the Canadian Debtors continue to terminate/reject remaining leases and only two non-unionized employees remain to assist with wind-down.
- recovery outcomeentries: basis: plan · quote: Under the Plan, if approved by creditors, confirmed by the U.S. Bankruptcy Court and implemented, each allowed Other Priority Claim will be satisfied in full, in cash, or otherwise receive treatment consistent with the U.S. Bankruptcy Code, and those claimants are presumed to accept the Plan. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: monitor · class label: Other Priority Claims (Class 3) · interim final: unstated · conditional on: if approved by creditors, confirmed by the U.S. Bankruptcy Court and implemented · claims qualifier: unstated; basis: plan · quote: Based on the Plan Settlement, the settled Joint and Several General Unsecured Claims of the settling J&S Holders and the Claims of the Non-J&S Holders are expected to receive the same percentage recovery, which is estimated to be between 12% and 16%. · pct of: unstated · outcome: distribution · pct low: 12 · pct high: 16 · class key: unsecured · stated by: monitor · class label: settled Joint and Several General Unsecured Claims of the settling J&S Holders and the Claims of the Non-J&S Holders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: YRC Freight Canada's estimated recovery percentage ranges from 0%-0.9%, while there are no projected recoveries for creditors of YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc., if any, as those entities do not have any assets or operations. · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 0.9 · stated by: monitor · class label: YRC Freight Canada · creditor name: YRC Freight Canada · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: YRC Freight Canada's estimated recovery percentage ranges from 0%-0.9%, while there are no projected recoveries for creditors of YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc., if any, as those entities do not have any assets or operations. · pct of: unstated · outcome: nil · stated by: monitor · class label: creditors of YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc. · interim final: unstated · claims qualifier: unstated · stated on: 2025-04-25 · table missing: The table below summarizes the classes, treatment of Claims and Interest under each class and the projected recoveries under the Plan: 3
- report date25 April 2025
- report noEighth Report of the Information Officer