Existing equity to be Cancelled on May 26:
" the Plan will result in Just Energy's emergence from CCAA proceedings and cases commenced under Chapter 15 of the United States Bankruptcy Code ("Chapter 15") pending in the United States Bankruptcy Court for the Southern District of Texas (the "U.S. Court"), preserve the going concern value of the business, maintain customer relationships and retain employment and critical vendor and regulator relationships. The Plan provides that certain creditors will receive cash payments and/or equity in exchange for their debt, and existing equityholders' interests will be cancelled for no consideration.
Just Energy and certain of its affiliates (collectively, the "Just Energy Entities") intend to bring motions before the Ontario Superior Court of Justice (Commercial List) (the "Court") on May 26, 2022 for: "
