British Columbia · NOI
Proposal Trustee's Third Report to Court dated June 30, 2025
Court officer report · 30 June 2025
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 filing7 verified
- cash on handnote: Actual closing cash for the monitored period April 20 to June 21, 2025 (projected closing cash for that period was 67,043). The Third Cash Flow Statement forecasts opening cash of $600,108 at June 29, 2025 and closing cash of $318,075 at August 23, 2025; these are projections, not the reported position. · as at: 2025-06-21 · amount: 126194 · currency: CAD
- disbursementsnote: Total actual disbursements for the period against projected 3,129,548. · since: April 20, 2025 (through June 21, 2025) · amount: 2576854 · currency: CAD
- operational summaryThe Company continues to operate its logging business. It has faced operational delays that slowed revenue collection (departed road-blaster, scale site closure, labour shortages, delayed grapple-yarder) and says these are now largely resolved. It is considering a possible proposal, informed by a liquidation analysis, and seeks a further stay extension to August 18, 2025.
- professional feesnote: Actual disbursement vs. projected 216,500; the Third Cash Flow Statement projects a further $180,000 of professional fees for June 29 to August 23, 2025. The report does not say whether tax is included. · party: Professional fees disbursed by the Company (the Proposal Trustee, its legal counsel and the Company's legal counsel are the parties secured by the Administration Charge); the report does not break fees out by party · amount: 161067 · period: April 20, 2025 - June 21, 2025 · currency: CAD
- receipts cumulativenote: Total actual cash inflows for the period, comprising logging revenue 1,788,091, GST receivable 89,308 and DIP financing 765,000; projected inflows for the period were 3,226,101. · since: April 20, 2025 (through June 21, 2025) · amount: 2725476 · currency: CAD
- report date30 June 2025
- report noThird Report