TravelBrands’ Plan Receives Approval
TravelBrands Inc. has received a Meeting Order and a Claims Procedure Order from the Ontario Superior Court of Justice.
The Meeting Order will permit the company to call a meeting of Affected Creditors to consider and vote upon a Plan of Compromise or Arrangement .
The Claims Procedure Order establishes a process for the identification and determination of Affected Claims.
The Plan, the Meeting Order and the Claims Procedure Order are detailed in the Motion Record dated Sept. 21, 2015 and are available at http://www.kpmg.com/ca/travelbrands .
The meeting of Affected Creditors will take place at Osler, Hoskin & Harcourt LLP, Suite 6300, 1 First Canadian Place, Toronto, Ontario, on October 30th, 2015, at 10:00 a.m.
TravelBrands announced on Sept. 21, 2015 that it had developed the Plan, which would see all Affected Creditors paid in full.
Further details will be mailed to Affected Creditors in due course. Affected Creditors can call the following hot-line for more information: 1-855-222-8084 (toll-free) or (416)-777-8040 (local).
The Court also granted an extension of the Stay Period, under the Companies’ Creditors Arrangement Act (CCAA) up to and including Dec. 11, 2015, which will allow for the continued smooth operation of the Company as it moves towards exiting CCAA.
