Quebec · CCAA
Third Report of the Monitor
Court officer report · 26 January 2016
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 filing9 verified · 1 withheld
- cash on handnote: Statement shows ending cash balance of 4 095 851 (CAD); excludes outstanding items totalling (241 997) (outstanding cheques (286 705), outstanding Callidus transfer 44 708). Reflects all Canadian and US operating accounts plus blocked accounts under the Callidus credit agreement. · as at: 2016-01-16 · amount: 4095851 · currency: CAD · qualifier: approximately $4.1 million
- disbursementsnote: Cash-basis total outflows, approximately 10 weeks; budget for the same period was 5 200 759. Disbursements for the 6 weeks Dec 6, 2015 to Jan 16, 2016 were 1 512 999. · since: 2015-11-12 (date of Initial Order) to 2016-01-16 · amount: 2285268 · currency: CAD
- operational summaryBluberi continues to operate as a casino gaming technology business with 64 employees recalled since the Initial Order, while preparing a court-approved sale solicitation process for its assets. Negotiations with Primero for the Redemption games business have been suspended, and the Monitor considers cash sufficient to sustain operations through the projection period.
- purchaserPrimero Games LLC
- receipts cumulativenote: Cash-basis total inflows, approximately 10 weeks; budget for the same period was 5 681 893. Receipts for the 6 weeks Dec 6, 2015 to Jan 16, 2016 were 2 392 990. · since: 2015-11-12 (date of Initial Order) to 2016-01-16 · amount: 6287103 · currency: CAD
- report date26 January 2016
- report noThird Report of the Monitor
- sale advisorErnst & Young Orenda Corporate Finance Inc.
- sale outcometext: Sale Solicitation Process approved and underway, no transaction closed yet · scope: whole_business · status: process_approved
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.