Good News For TravelBrands

TravelBrands received some good news late last week with the Ontario Superior Court of Justice ruling that the claim from Gibralt Capital Corporation is invalid and upholding TravelBrands’ denial of that claim.
Commenting on the ruling, TravelBrands said in a statement: “The Company continues to move forward to exit CCAA. TravelBrands will make a motion to the Court on January 14, 2016 to secure a Plan Sanction and Termination Order.”
The company’s statement noted that: “A Plan of Compromise or Arrangement, which would see all Affected Creditors paid in full, was overwhelmingly approved at a Meeting of Affected Creditors on October 30, 2015.”
Before its added that: “More details regarding TravelBrands’ plans for exiting CCAA and expected timelines will follow in due course. Until then, it continues to be business as usual for Travelbrands’ valued customers and partners.”