British Columbia · CCAA
Monitor’s Second Report – October 16, 2013
Court officer report · 16 October 2013
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 filing5 verified
- cash on handnote: This is the forecast ending cash balance at January 5, 2014 under the Care and Maintenance Cash Flow Statement, not an actual cash balance. The report does not state a current actual cash balance. · as at: 2014-01-05 · amount: 511213 · currency: CAD · qualifier: forecast
- operational summaryThe Treasure Mountain Mine and the Mill are on care and maintenance because the DIP lender, Waterton, declined to fund the second tranche. The Companies are working with Haywood to find financing or asset buyers so they can put a Plan to creditors.
- professional feesnote: This is a work fee HSI agreed to pay Haywood, plus a further success fee depending on the outcome. The report estimates about $56,250 of it falls within the 15-week cash flow period. It does not state the Monitor's own fees; the cash flow notes budget the Monitor and its counsel at a $50,000 retainer plus $15,000 per week. · party: Haywood Securities Inc. (strategic advisor to HSI) · amount: 100000 · currency: CAD
- report date16 October 2013
- report noSecond Report