The Applicants believe that the delayed appeals procedure will be effective and reasonable in the circumstances of the procedure within the CCAA. The Late Claims Order provides for comprehensive notice to any restructuring claimant following the filing of a late claims proceeding. As such, the applicants are very confident that any post-filing restructuring claimants will receive notice of the delayed appeals procedure.
I am (if I am a director, officer or employee of the company; national position or title) a post-filing restructuring claimant. With respect to this debt, the post-filing restructuring claimant does not have any assets of the debtor(s) or directors/officers as security. The individual who signs the form must be aware of the circumstances related to the claim.
Pursuant to the Late Filed Claims Order, BDO Canada Limited, in its capacity as supervisor of the applicants, Calgary, Oil & Gas Syndicate Group Ltd., Calgary Oil and Gas Intercontinental Group Ltd. The Plan is hereby accepted for filing, and the Debtors shall seek approval of the Plan in the manner set forth herein. Any other person may be admitted to the creditors' meeting upon invitation from the chairman.
Any Voting Proxy that any Voting Creditor wishes to submit in respect of the Creditors. Meeting (or any adjournment thereof) must be substantially in the form circulated by the Monitor, and received by the Monitor prior to the commencement of the Creditors' Meeting. The Monitor shall preside as chairman of the Creditors' Meeting (the “Chairman”) and, subject to any further order of this Court, shall decide all matters relating to the conduct of the Creditors' Meeting.
The Monitor may appoint scrutineers for the supervision and tabulation of the attendance, quorum and votes cast at the Creditors' Meeting. The Debtors shall be entitled to examine the table of attendance, quorum and votes by the investigators appointed by the Monitor. The Monitor shall report to this Court immediately after the Creditors' Meeting regarding:. a) the results of the vote to approve the Plan;.
IN THE MATTER OF THE CORPORATE CREDITORS REGULATION ACT, RSC 1985, c C-36, AS AMENDED, AND IN THE MATTER OF CALGARY OIL & GAS SYNDICATE GROUP LTD., CALGARY OIL AND GAS INTERCONTINENTAL GROUP LTD. NOW THEREFORE, the Debtors, on behalf of the Released Parties, propose this plan pursuant to the CCAA.
Defined Terms
AND WHEREAS, this Plan provides a viable and credible alternative for Affected Creditors to receive benefits on their Claims, which Claims will be determined through the Claims Procedure; NOW THEREFORE, the Obligors, on behalf of the Indemnified Parties, hereby propose this Plan pursuant to the CCAA. k) “CCAA procedure” has the meaning given to it in the recitals; l) “Claims” means any right of any person against the Debtors in respect of any indebtedness, liability or obligation of any kind whatsoever of any of the Debtors to such person, whether liquidated or unliquidated, determined or conditional, mature or untimed, disputed or undisputed, legal or equitable, secured or unsecured, present or future, known or unknown, including any interest accrued thereon or charges payable in connection therewith up to the Determination Date, whether or not such right is executory or anticipatory in nature, whether principal indebtedness or a guarantee or a surety, including the right or ability of any person to assert a claim for contribution or damages or otherwise with respect to any matter, action, cause of action or elective action, whether now existing or hereafter commenced, which indebtedness, liability or obligation is based in whole or in part upon facts existing prior to the Determination Date, or which bankruptcy would have been a provable claim if the Debtors, or any of them, had gone bankrupt on the Determination Date, and includes all late-filed claims; m) “Plaintiff” means any person who has or may have a claim against the Released Parties; n) “Claims Bar Date” has the meaning given to it in the Claims Procedure Order in relation to all claims other than late claims, for which the Claims Bar Date is the Late Claims Bar Date set out in the Late Claims Order; o) “Claim Procedure” has the meaning given to it in the Claim Procedure Order with respect to all Claims other than Late Claims, for which the Claim Procedure is the Late Claim Procedure set forth in the Late Claim Order; p) “Claims Procedure Order” has the meaning given to it in the recitals; Calgary time) on the plan implementation date; y) “Equity Injection Fund” means the aggregate monetary contributions payable by Spartan under the Agreement and in the aggregate CAD z) “Final Order” means an Order of the CCAA Court that has not been reversed, vacated, modified, varied or stayed and which be no longer subject to further appeals, either because the time for appeal has expired without an appeal having been lodged, or because this has been confirmed by all courts having jurisdiction to hear any appeals against it; aa) “Initial Order” has the meaning given to it in the recitals; bb) “Injunction and Release” means an order of the CCAA Court finally and automatically enjoining the enforcement, prosecution, continuation and/or commencement of all Affected Claims that a Person or Claimant has or alleges or may have and forbidden. future hold or enforcement against any of the Indemnified Parties or which could give rise to a claim against the Indemnified Parties, whether through a derivative claim, a counterclaim, a third party claim, a warranty claim, a recursive claim, a subrogation claim , a forced intervention or otherwise, arising out of, connected with and/or in any way related to the dealings of any of the Indemnified Parties with any of the Debtors (the “Indemnified Claims”).
The injunction and release shall provide that any and all claims waived against the Released Parties shall be permanently and automatically compromised, discharged and extinguished, that all Persons and Plaintiffs, whether or not consensual, shall be deemed to have are approved complete, final, absolute. unconditional, complete and final releases of any Released Claims to the Released Parties and shall be forever and forever barred, barred, barred and enjoined from (i) pursuing any Released Claims, directly or indirectly, against the Released Parties; (ii) continuing or commencing, directly or indirectly, any action or other proceeding with respect to any claim waived against the Released Parties, (iii) seeking the enforcement, assignment, fixation, collection, contribution or recovery of or from any judgment , judgment, decree, or order against the Released Parties or the property of the Released Parties with respect to any Released Claim, (iv) creating, perfecting or otherwise enforcing in any way, directly or indirectly, any lien or encumbrance of any kind against the Released Parties or the property of the Released Parties with respect to any Released Claim, (v) acting or proceeding in any manner, in any place, inconsistent with or inconsistent with the provisions of the Plan Sanction Order to the extent to the fullest extent permitted by applicable law, and (vi) claiming any right of set-off, compensation, substitution, contribution, indemnity, claim or action in warranty or injunctive relief, reimbursement or avoidance of any kind against any obligation owed to the Parties Released with respect to any Claim waived or asserted any right of assignment or substitution against any obligation owed to any of the Released Parties;. cc) "Late Claim" means the claim arising from an agreement which has been denied by the debtor in the CCAA procedure, as defined in the Order for Late Claims;. dd) "Order for requests submitted late" has the meaning described in the recital; ee) “Meeting” means a meeting or meetings of affected creditors to consider and vote on the plan held pursuant to the Meeting Order and includes any meeting or meetings resulting from its adjournment. ff) "Meeting Order" means a court order entered in the CCAA proceeding, which, among other things, accepts the filing of this Plan and orders and states the procedures to be followed in connection with the meetings of creditors, as such. may be amended, restated or amended from time to time by subsequent Order;. gg) “Monitor” means BDO Canada Limited;. hh) "Order" means any order of the Court respecting the Procedures of the CCAA; ii) "Person" includes an individual, a partnership, a corporation, a trust, a joint venture, an unincorporated organization, a trade union, a government or any department or agency thereof and the heirs, executors, administrators or representatives of other legal entities of an individual; jj) "Plan" means this plan of compromise and adjustment in the CCAA Proceeding; ll) "Plan Implementation Date" means the working day on which the Monitor has submitted to the CCAA Court the certificate provided for in section 6.2 of this law, and which date shall be no later than on or before July mm) “Plan Sanction Order” means an Order from the Court, substantially as set forth in the Table.
Certain Rules of Interpretation
Currency
Successors and Assigns
Governing Law
Schedules
Purpose
The plan is presented in the expectation that the creditors, viewed as a whole, will have a greater and more reliable benefit from the implementation of the plan than they would have in the case of the sale of assets, bankruptcy or forced liquidation of the company. Debtors.
Overview
Class of Creditors
Claims Procedure
Unaffected Claims
All of the foregoing rights and claims set forth in this Section 3.3 are collectively referred to as.
Treatment of Creditors
Voting Rights for Creditors
Interest
Contributions
Distribution to Creditors
Timing of Distributions to Creditors
Delivery of Distributions to Creditors
Unclaimed Distributions
Transfer of Claims; Record Date for Distributions
Plan Releases and Injunctions
Timing of Releases and Injunctions
Conditions Precedent to Implementation of Plan
Monitor’s Certificate
Termination of Plan for Failure to Become Effective
Binding Effect
Deeming Provisions
Non-Consummation
Plan Amendment
Severability
Paramountcy
For greater certainty, all affected creditors and debtors must be deemed to consent to all transactions contemplated by the plan.
Responsibilities of the Monitor
Notices
No Preference
No Admission and Reservation of Rights
