Court File No. CV-09-8396-00CL ONTARIO SUPERIOR COURT OF
Total Page：16
File Type：pdf, Size：1020Kb
Court File No. CV-09-8396-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF CANWEST GLOBAL COMMUNICATIONS CORP. AND THE OTHER ENTITIES LISTED ON SCHEDULE A HERETO APPLICANTS RESTATED CONSOLIDATED PLAN OF COMPROMISE, ARRANGEMENT AND REORGANIZATION pursuant to the Companies’ Creditors Arrangement Act and the Canada Business Corporations Act concerning, affecting and involving CANWEST GLOBAL COMMUNICATIONS CORP., CANWEST MEDIA INC., CANWEST TELEVISION GP INC., CANWEST TELEVISION LIMITED PARTNERSHIP, CANWEST GLOBAL BROADCASTING INC./RADIODIFFUSION CANWEST GLOBAL INC., FOX SPORTS WORLD CANADA HOLDCO INC., FOX SPORTS WORLD CANADA PARTNERSHIP, NATIONAL POST HOLDINGS LTD., THE NATIONAL POST COMPANY/LA PUBLICATION NATIONAL POST, MBS PRODUCTIONS INC., YELLOW CARD PRODUCTIONS INC., GLOBAL CENTRE INC. AND 4501063 CANADA INC. As of June 23, 2010 TOR_A2G:4683817.144683817.16 TABLE OF CONTENTS Page Article 1 INTERPRETATION ..............................................................................................1 1.1 Definitions ..............................................................................................................1 1.2 Construction .........................................................................................................23 1.3 Currency Conversion............................................................................................24 1.4 CMI Claims Bar Date and Restructuring Period Claims Bar Date ......................24 1.5 Interest ..................................................................................................................24 1.6 Schedules..............................................................................................................24 Article 2 PURPOSE, EFFECT OF PLAN AND OPERATIONS .......................................25 2.1 Purpose of Plan.....................................................................................................25 2.2 Persons Affected...................................................................................................25 2.3 Unaffected Claims ................................................................................................25 2.4 Business Operations .............................................................................................25 Article 3 CLASSIFICATION OF CREDITORS, VOTING CLAIMS AND RELATED MATTERS ........................................................................................26 3.1 Claims Procedure..................................................................................................26 3.2 Classes of Creditors..............................................................................................26 3.3 Meetings ...............................................................................................................26 3.4 Voting by Noteholders .........................................................................................26 3.5 Voting by the Ordinary Creditors Class ...............................................................26 3.6 Voting of Convenience Class Claims...............................................................2726 3.7 Election to be Treated as a Convenience Class Claim .........................................27 3.8 Parties Not Entitled to Vote..................................................................................27 3.9 Fractions ...............................................................................................................27 3.10 Voting of Unresolved Claims...............................................................................27 3.11 Order to Establish Procedure for Valuing Voting Claims....................................27 3.12 Approval by Creditors ..........................................................................................28 3.13 Assignment of Ordinary Creditor Claims and Convenience Class Creditor Claims Prior to the Ordinary Creditors Meeting ..................................................28 Article 4 DISTRIBUTIONS AND PAYMENTS................................................................28 4.1 Distributions to Noteholders.................................................................................28 4.2 Distributions to Convenience Class Creditors......................................................28 4.3 Distributions to Ordinary Creditors......................................................................29 4.4 Distributions Regarding Unresolved Claims........................................................30 4.5 Plan Implementation Fund ...................................................................................30 4.6 Payment of Unaffected Claims.............................................................................30 4.7 Allocation of Distributions ...................................................................................30 4.8 Cancellation of Certificates and Notes .................................................................30 4.9 Taxes.....................................................................................................................30 4.10 Undeliverable Distributions..................................................................................31 4.11 Assignment of Ordinary Claims Subsequent to the Ordinary Creditors Meeting.................................................................................................................31 4.12 Treatment of Equity Claims .................................................................................32 4.13 Treatment of Intercompany Claims......................................................................32 -i- TOR_A2G:4683817.144683817.16 TABLE OF CONTENTS (continued) Page Article 5 RESTRUCTURING AND PLAN IMPLEMENTATION ...................................32 5.1 Corporate and Other Authorizations.....................................................................32 5.2A Incorporation of New Canwest.............................................................................32 5.2B Canwest Reorganization.......................................................................................32 5.3 CH Plan Administrator.........................................................................................33 5.4 4414616 Canada ...................................................................................................33 5.5 Steps to beTo Be Taken on the Plan Implementation Date..................................33 5.6 National Post and National Post Holdings ...........................................................40 5.7 Post-Implementation Matters ...............................................................................40 Article 6 SANCTION ORDER AND PLAN IMPLEMENTATION .................................41 6.1 Application for Sanction Order ............................................................................41 6.2 Effect of Sanction Order.......................................................................................41 6.3 Conditions to Plan Implementation......................................................................46 6.4 Monitor’s Certificate ........................................................................................4748 6.5 Outside Date .........................................................................................................48 Article 7 EFFECT OF THE PLAN .....................................................................................48 7.1 Effect of the Plan Generally ................................................................................48 7.2 Prosecution of Judgments.....................................................................................48 7.3 Released Parties................................................................................................4849 7.4 Guarantees and Similar Covenants...................................................................5051 7.5 Consents, Waivers and Agreements .................................................................5051 7.6 Multiple Affected Claims .................................................................................5152 Article 8 GENERAL ...........................................................................................................52 8.1 Amendments.........................................................................................................52 8.2 Non-Consummation of the Plan ...........................................................................52 8.3 Contracts and Leases ........................................................................................5253 8.4 Preferential Transactions ......................................................................................53 8.5 Severability of Plan Provisions.............................................................................53 8.6 Deeming Provisions..............................................................................................53 8.7 Paramountcy.........................................................................................................53 8.8 Set-Off ..................................................................................................................53 8.9 Responsibilities of the Monitor ........................................................................5354 8.10 Different Capacities..............................................................................................54