Quebec · CCAA
Trustee's Report on the Business and Financial Affairs
Court officer report · 8 October 2020
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing4 verified
- operational summaryKanwal continues to operate in the normal course of business, producing sealing parts and mud flaps, while pursuing a refinancing with Waygar and a court-approved SISP as a fallback; sales and gross profit for the two months to August 31, 2020 fell versus 2019. The trustee recommends a 45-day extension to November 27, 2020 to file a proposal.
- report date8 October 2020
- report noFirst Report
- sale outcometext: Kanwal still plans to put in place a SISP, which was approved by the Court in the Order rendered on August 31, 2020, but the SISP has not yet been announced to third parties and is planned to be launched by October 16, 2020 · scope: whole_business · status: process_approved