Ontario · Proposal
Second Report of the Proposal Trustee dated May 25, 2021 (for motion returnable May 28, 2021)
Court officer report · 25 May 2021
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
- fee scheduleengagements: form: prose · rows: · money: fees: quote: The Proposal Trustee's total fees are $92,126 · amount: 92126 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 397.78 · quote: its average hourly rate is calculated to be $397.78 · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: SECOND REPORT OF ALBERT GELMAN INC. · hours total: quote: its total hours spent is 231.6 · value: 231.6 · context quote: IN ITS CAPACITY AS PROPOSAL TRUSTEE respecting Motion returnable May 28, 2021
- operational summaryThe Companies continued operating during the NOI proceedings, using DIP financing minimally, seeking long-term refinancing to repay RBC and the DIP facility, and pursuing an auction sale of redundant equipment while continuing informal creditor discussions.
- professional feesnote: Total fees exclude HST; averages 231.6 hours at an average hourly rate of $397.78. Legal counsel MSM fees also referenced separately in Legal Counsel Fee Affidavit but no combined total given. · party: Albert Gelman Inc. (Proposal Trustee) · amount: 92126 · currency: CAD
- report date25 May 2021
- report noSecond Report