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GhengisJohn

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GhengisJohn

Re: 1manband post# 45559

Tuesday, 10/02/2018 10:12:23 PM

Tuesday, October 02, 2018 10:12:23 PM

Post# of 148025
Too much here to copy and paste on a phone...
The discretion of priority and who gets paid and what gets canceled and what does not begins at 2.7 on page 9/25
https://www.insolvency.ca/en/resources/IIC_Bankruptcy_Primer.pdf

As best I can tell, as long as the company can claim portions of the restructuring/sale of a business not closing its doors are necessary parts of continuity of business, CCAA does not need to follow super-priority of secured creditors like in US.

There is a flow chart that states the non-conformity to debt repayment prioritization more clearly but I haven’t figured out/remembered which document it belongs to yet.
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