TravelBrands Inc. | KPMG | CA

TravelBrands Inc.

TravelBrands Inc.

Creditor and stakeholder information

Creditor and stakeholder information

Termination of the CCAA Proceedings: Plan implementation and discharge of the Monitor

On February 9, 2016, TravelBrands Inc. (“TravelBrands” or the “Company”) implemented the second amended and restated plan of compromise or arrangement dated January 8, 2016 (the “Second Amended and Restated Plan”). After the Company provided confirmation to KPMG Inc. (“KPMG” or the “Monitor”) that all conditions set out in section 9.1 of the Second Amended and Restated Plan had been satisfied or waived, the Monitor filed with the Court the monitor’s certificate (Schedule “B” to the Plan Sanction and Termination Order (defined below)) (the “Monitor’s Certificate”), signifying that the Second Amended and Restated Plan has been implemented. Pursuant to the plan sanction and termination order dated January 14, 2016 (the “Plan Sanction and Termination Order”), upon filing the Monitor’s Certificate, KPMG was discharged as the Monitor of TravelBrands and the CCAA Proceedings have been terminated.

Update on the CCAA Proceedings

On October 30, 2015, TravelBrands Inc. (“TravelBrands” or the “Company”) held a meeting of its creditors (the “ Creditors’ Meeting”) to consider and vote on the plan of compromise or arrangement (the “Plan”) filed by TravelBrands under the Companies’ Creditors Arrangement Act (the “CCAA”).   A majority of Affected Creditors voting on the plan in person or by proxy voted in favour of the Plan, specifically 99.85% of the value of the claims and 99.87% of Affected Creditors voting on the Plan voted in support of the Plan.   A date for the Court hearing to sanction the Plan (the “Sanction Hearing”) has not yet been scheduled; however, notice of the Sanction Hearing will be provided in accordance with the Meeting Order and will be posted on the Monitor’s website.

The Company will be before the Court on November 23, 2015.  The Monitor intends to issue a report (and post it to this website) thereafter regarding the outcome of the Creditors’ Meeting and the anticipated next steps.

Background

On May 27, 2015, TravelBrands Inc. ("TravelBrands" or the "Company") sought and obtained an Initial Order (the "Initial Order") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA").

The Ontario Superior Court of Justice (Commercial List) (the “Court”) granted the Company the protections afforded by a stay of proceedings while the Company pursues restructuring initiatives under the CCAA.

The Initial Order appointed KPMG Inc. as Monitor in the Company’s CCAA proceedings.

Claims Procedure and Creditors' Meeting

On September 28, 2015, the Court issued an order (the "Claims Procedure Order") approving a claims procedure (the "Claims Procedure"). The Claims Procedure Order provides for a Claims Bar Date of October 28, 2015.

On the same date, the Court also issued an order (the "Meeting Order") authorizing the Company to call a meeting of its creditors (the "Creditors' Meeting") to consider and vote upon the plan of compromise or arrangement (the "Plan") filed by TravelBrands under the CCAA. The Creditor Meeting is scheduled to take place at the offices of Osler, Hoskin & Harcourt LLP, Suite 6300, 1 First Canadian Place, Toronto on October 30, 2015 at 10:00 a.m. (Toronto time).

For copies of all documents related to the Claims Procedure, the Creditors' Meeting and the Plan, please see below.

Contact Information

Marcel Réthoré

tbcreditorinquiries@kpmg.ca

Claims Procedure and Creditors' Meeting Documents

Travel Trade Creditor Representative Package [PDF 71 KB] - 9/28/2015

Affected Creditor Package [PDF 70 KB] - 9/28/2015

Plan of Compromise or Arrangement [PDF 202 KB] - 9/28/2015

Claims Procedure Order [PDF 2559 KB] - 9/28/2015

Meeting Order [PDF 4783 KB] - 9/28/2015

Letter from TravelBrands dated October 6, 2015 [PDF 132 KB] - 10/6/2015

Amended and Restated Plan of Compromise or Arrangement [PDF 126 KB] - 10/30/2015

Amended and Restated Plan of Compromise or Arrangement - Blackline to the Original Plan [PDF 361 KB] - 10/30/2015

TravelBrands Inc. Creditors' Meeting Press Release [PDF 89 KB] - 10/30/2015

Second Amended and Restated Plan of Compromise or Arrangement [PDF 118 KB] - 1/8/2016

Second Amended and Restated Plan of Compromise or Arrangement - Blackline to the Amended and Restated Plan [PDF 365 KB] - 1/8/2016

Notice to Creditors

List of Known Creditors [PDF 500 KB] - 5/27/2015

Notice to Creditors [PDF 59 KB] - 6/1/2015

Avis Aux Créanciers [PDF 60 KB] - 6/1/2015

Court Orders

Initial Order [PDF 1091 KB] - 5/27/2015

Endorsement (Initial Order) [PDF 177 KB] - 5/27/2015

Landlord Consent Order [PDF 660 KB] - 6/15/2015

Amended & Restated Initial Order [PDF 971 KB] - 6/24/2015

Stay Extension Order [PDF 107 KB] - 6/24/2015

Vesting Order [PDF 76 KB] - 6/24/2015

Endorsement (Stay Extension) [PDF 63 KB] - 6/24/2015

Stay Extension Order (August 14, 2015) [PDF 95 KB] - 8/14/2015

Endorsement (Stay Extension - August 14, 2015) [PDF 66 KB] - 8/14/2015

Claims Procedure Order [PDF 2559 KB] - 9/28/2015

Meeting Order [PDF 4783 KB] - 9/28/2015

Endorsement (Stay Extension - September 28, 2015) [PDF 64 KB] - 9/28/2015

Stay Extension Order (December 7, 2015) [PDF 140 KB] - 12/7/2015

Endorsement (Stay Extension - December 7, 2015) [PDF 115 KB] - 12/7/2015

Endorsement (January 14, 2016) [PDF 139 KB] - 1/14/2016

Approval and Vesting Order (January 14, 2016) [PDF 334 KB] - 1/14/2016

Sanction Order (January 14, 2016) [PDF 3124 KB] - 1/14/2016

Monitor’s Reports

Pre-Filing Report of the Proposed Monitor [PDF 5737 KB] - 5/27/2015

First Report of the Monitor [PDF 939 KB] - 6/23/2015

Second Report of the Monitor [PDF 2149 KB] - 8/13/2015

Third Report of the Monitor [PDF 834 KB] - 9/24/2015

Supplement to the Third Report of the Monitor [PDF 66 KB] - 10/26/2015

Fourth Report of the Monitor [PDF 466 KB] - 12/2/2015

Fifth Report of the Monitor [PDF 3045 KB] - 1/13/2016

Motion Materials (including filed Affidavits)

Initial Application returnable May 27, 2015

Application Record – Part 1 of 4 [PDF 5437 KB] - 5/27/2015

Application Record – Part 2 of 4 [PDF 7395 KB] - 5/27/2015

Application Record – Part 3 of 4 [PDF 6467 KB] - 5/27/2015

Application Record – Part 4 of 4 [PDF 7477 KB] - 5/27/2015

Motion for a Stay Extension Returnable August 14, 2015

Motion for a Stay Extension Returnable August 14, 2015 (Part 1 of 3) [PDF 2620 KB] - 8/14/2015

Motion for a Stay Extension Returnable August 14, 2015 (Part 2 of 3) [PDF 2873 KB] - 8/14/2015

Motion for a Stay Extension Returnable August 14, 2015 (Part 3 of 3) [PDF 3146 KB] - 8/14/2015

Motion Record for Claims Procedure Order and Meeting Order Returnable September 28, 2015

Motion Record Returnable September 28, 2015 (Part 5 of 5) [PDF 2434 KB] - 9/28/2015

Motion Record Returnable September 28, 2015 (Part 4 of 5) [PDF 2371 KB] - 9/28/2015

Motion Record Returnable September 28, 2015 (Part 3 of 5) [PDF 2744 KB] - 9/28/2015

Motion Record Returnable September 28, 2015 (Part 2 of 5) [PDF 776 KB] - 9/28/2015

Motion Record Returnable September 28, 2015 (Part 1 of 5) [PDF 1174 KB] - 9/28/2015

Motion Record - 75 Eglinton Ave E Limited Partnership [PDF 323 KB] - 6/12/2015

Motion for a Stay Extension Returnable June 24, 2015 [PDF 6986 KB] - 6/24/2015

Motion for a Stay Extension Returnable December 7, 2015 [PDF 4211 KB] - 11/30/2015

Motion Record returnable January 14 2016 [PDF 10832 KB] - 1/8/2016

Affidavit of Philip J. Reynolds sworn January 12, 2016 [PDF 1217 KB] - 1/12/2016

Affidavit of Ashley John Taylor sworn January 12, 2016 [PDF 1131 KB] - 1/12/2016

Service List

Service List [PDF 32 KB] - 9/24/2015

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