Super Channel restructuring plan gets thumbs up from creditors

EDMONTON - Allarco Entertainment, owners of Canadian pay-TV service Super Channel, received unanimous creditor approval for a plan of compromise and arrangement under Companies’ Creditors Arrangement Act (CCAA).CCAA is a statute in Canadian law that governs the reorganization of businesses, allowing them time to restructure and reorganize debts.Allarco said Tuesday in a statement that it will appear in court on September 3rd to have the plan of arrangement sanctioned by the court. The company, which has been in CCAA since June 2009, said that it expects to be finished restructuring by the end of September.www.superchannel.ca