CCAA Filing Information
Page last updated: March 24, 2008
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.
Status of Matter as at March 24, 2008
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Pursuant to a hearing on March 17, 2008, the Ontario Superior Court of Justice appointed PricewaterhouseCoopers Inc. as financial advisor to an ad hoc committee of noteholders (the "Ad Hoc Committee") of 3rd Party Structured Asset-Backed Commercial Paper ("ABCP"), which commercial paper is proposed to be restructured, pursuant to a plan of arrangement and compromise (the "Restructuring Plan") filed under the Companies' Creditors Arrangement Act ("CCAA Filing") by the Pan-Canadian Investors Committee for Third Party Structured Asset-Backed Commercial Paper (the "Investors Committee").
Miller Thomson LLP was appointed by the Ontario Superior Court of Justice as representative legal counsel for the Ad Hoc Committee.
Due to the complex nature of the assets of the Conduits, coupled with the deterioration in the credit markets over the past 8 months, the Restructuring Plan is extremely complicated. The Investors Committee has provided considerable information on the Restructuring Plan in an Information Statement, that was mailed to all known noteholders on March 24, 2008.
Due to the complex nature of the restructuring, the Ad Hoc Committee has been formed with a view to providing additional information to Ad Hoc Committee members, to assist them with their decision on how to vote on the Restructuring Plan.
In this respect, the noteholders vote is to take place on April 25, 2008.
Any noteholders who want more information on the Ad Hoc Committee should contact us at +1 416 815 5292 or by sending an email to ABCP Restructuring. |
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This Web site will be updated as information becomes available.