Ontario · CCAA
Second Supplement to the Second Report of the Monitor
Court officer report · 29 June 2026
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: Figure stated in Appendix B (Justice Steele's June 11 Endorsement), not the Second Supplemental Report body itself. · as at: 2026-06-12 · amount: 1000000 · currency: USD · qualifier: approximately
- operational summaryThe Monitor supports final court approval of the EDC DIP Facility together with a negotiated DIP Settlement Agreement among the Senior Secured Lenders and DIP Lender, and is focused on assisting the Debtors with supplier engagement for the critical Sealift Season, launching a SISP, and selecting a Transaction Advisor and Chief Restructuring Officer.
- professional feesnote: From Appendix E DIP Settlement Agreement: approximately US$500,000 for Oaktree/Hartree and approximately US$500,000 for the Ad Hoc Committee of Noteholders, to be paid by the Company following issuance of the EDC DIP Order; ongoing fees post-order capped at USD$200,000 per month for each of Polen/Brigade, Oaktree/Hartree, and EDC. · party: Oaktree/Hartree and Ad Hoc Committee of Noteholders (Senior Secured Lenders) professional advisors · amount: 500000 · period: May 15, 2026 to June 10, 2026 · currency: USD
- report date29 June 2026
- report noSecond Supplement to the Second Report