Quebec · CCAA
Nineteenth Monitor's Report on the Application to Extend the Stay Period
Court officer report · 13 December 2022
What we verified from this filing7 verified
- cash on handnote: Ending cash of $17.9M includes approximately $5.0M held by the Monitor in trust as part of the Cantore Litigation Fund; forecast ending cash for cash flow projection period is $18M. · as at: 2022-12-17 · amount: 17726919 · currency: CAD
- disbursementsnote: Total disbursements for the 23-week cash flow projection period. · since: 2022-07-16 (start of 23-week cash flow period) · amount: 676830 · currency: CAD
- operational summaryThe Debtors' estate is winding down through ongoing litigation with Cantore, claims resolution processes, and a proposed distribution to secured creditors, with the Monitor seeking a further stay extension to April 14, 2023 to complete these steps.
- professional feesnote: Unfavorable variance related to professional fees actually incurred by the Monitor and its counsel due to Cantore litigation; separate $32k unfavorable variance on legal fees incurred by Davies, counsel to Nemaska Lithium Inc. · party: Monitor and its counsel · amount: 575000 · period: 22-week period ending December 10, 2022 · currency: CAD
- receipts cumulativenote: Total receipts for the 23-week cash flow projection period. · since: 2022-07-16 (start of 23-week cash flow period) · amount: 279400 · currency: CAD
- report date13 December 2022
- report noNineteenth Monitor's Report