Ontario · Foreign recognition (CCAA)
Ninth Report of the Information Officer (KPMG)
Court officer report · 20 November 2024
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 filing8 verified
- closing confirmedscope: substantially all of their talc operations · outcome: completed · effective: 2021-02-17 · purchaser: Magris · date basis: stated
- operational summaryThe report addresses the Debtors' plan of reorganization process (solicitation, mediation, and settlement orders including J&J Settlement and QSF Trust), rather than ongoing operating business activities, as the Debtors' talc operations were already sold to Magris in 2021.
- purchaserMagris
- recovery outcomeentries: basis: plan · quote: | 1 | Priority Non-Tax Claims | Unimpaired | Not Entitled to Vote (Presumed to Accept) | 100% · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: unstated · class label: Priority Non-Tax Claims (Class 1) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As further described below, holders of unsecured claims against the North American Debtors (Class 3a), including the unsecured creditors of ITC, will be unimpaired and have their claims paid in full under the Second Joint Plan. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: unstated · class label: unsecured claims against the North American Debtors (Class 3a) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: | 6c | Equity Interests in ITI | Unimpaired | Not Entitled to Vote (Presumed to Accept) | Reinstated | · pct of: unstated · outcome: paid_in_full · class key: equity · stated by: unstated · class label: Equity Interests in ITI (Class 6c) · interim final: unstated · conditional on: Reinstated · claims qualifier: unstated; basis: plan · quote: As detailed in the Second Joint Plan, holders of allowed claims in Class 3a shall have their claims paid in full in cash as soon as practicable after the later of (i) the Effective Date or (ii) in the case of a disputed claim, the date that such claim becomes allowed. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: unstated · class label: holders of allowed claims in Class 3a · interim final: unstated · conditional on: as soon as practicable after the later of (i) the Effective Date or (ii) in the case of a disputed claim, the date that such claim becomes allowed · claims qualifier: unstated · stated on: 2024-11-20 · table missing:
- report date20 November 2024
- report noNinth Report
- sale outcometext: the Debtors closed the sale of substantially all of their talc operations to Magris · scope: whole_business · status: closed
- stalking horseMagris Performance Materials Inc., f/k/a Magris Resources Canada Inc.