Direct discussions of Mahayana sutras can be discussed at our sister site: http://www.dharmawheel.net/
Unless the discussion is somehow related to its historical development and relation to a Pali sutta.
In regard to the OP, suffice it to say that the Theravada has no name or concept of a final day when all beings are liberated.
imo, it would be apocalyptic, a sort of 'Buddhist Judgment Day' which would contravene many teachings in the Suttas. Logically and from science it would probably be an impossibility too, since there could be no humans unless there were at least some animals, fish, and sea animals, and insects. How would these lower beings gain liberation with the humans on the same day / date?