GREY:NMKEF - Post by User
Post by
Takeactionnowon Jun 26, 2020 10:05am
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Post# 31194693
The CCAA process explained
The CCAA process explainedMost readers on this board are not lawyers and many likely are somewhat vague as to how the Companies' Creditors Arrangement Act (CCAA) process works. Here is a link to an excellent summary that explains the process. Note the first paragraph under the heading
The Restructuring Plan. Also, "DIP" simply means "debtor-in-possession"; a DIP lender ordinarily has top priority since lending occurred after the corporation became financially distressed with a view to facilitating its reorganization.
A simple introduction to the CCAA process for those considering a restructuring