British Columbia · CCAA
Sixth Report of the Monitor dated December 23, 2025
Court officer report · 23 December 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 filing9 verified
- report date23 December 2025
- report noSixth Report
- operational summaryThe Petitioners are a Canadian-based specialty retailer operating on a consolidated basis, offering fashion apparel, accessories, jewelry, and homeware under the "Oak + Fort" brand through e-commerce and retail stores in Canada and the United States. The Sixth Report provides background on the CCAA proceedings, an update on the Claims Process (substantially complete apart from Potential Unresolved Employee Claims), the results of the December 19, 2025 creditors' meeting (unanimous approval of the Plan), the Monitor's recommendation that the Plan be sanctioned, next steps toward Plan implementation including U.S. recognition and the Monitor's eventual discharge, and a request for approval of fees and disbursements of the Monitor, Proposal Trustee, and Bennett Jones.
- professional feesMonitor's fees $795,153.20 and Bennett Jones' fees $639,702.50 (excluding disbursements and applicable taxes), from commencement of proceedings to December 19, 2025
- operational summaryThe Company continues to operate as it works toward implementation of a consolidated Plan of Arrangement, having reduced headcount and exited underperforming retail locations, with the Plan unanimously accepted by creditors and secured/equity exit financing anticipated before implementation.
- professional feesnote: Excludes disbursements and applicable taxes; Bennett Jones fees for same period were $639,702.50; separate Fee Accrual of $450,000 for future fees from Dec 20, 2025 to discharge of Monitor. · party: Monitor (KSV) and Bennett Jones LLP (Monitor's counsel) · amount: 795153.2 · period: commencement of proceedings to December 19, 2025 · currency: CAD
- recovery outcomeentries: basis: plan · quote: If approved, the Plan will provide for a payment to each Affected Creditor in an amount equivalent to four percent (4%) of their Accepted Claim. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · cents on dollar: 4 · claims qualifier: unstated; basis: liquidation_alternative · quote: As reflected in the table above, the estimated recoveries to unsecured creditors in a liquidation scenario would likely range from virtually nil (less than 1%) to 2%. · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 2 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: the Plan provides recoveries for Affected Creditors of four percent (4%) of their Accepted Claims, offering certainty both in timing and amount. The alternative to the Plan is a forced liquidation of the assets of the Company, under which the likely recoveries are estimated to range between virtually nil (less than 1%) to two percent (2%) with the maximum recovery being approximately seven percent (7%). · pct of: unstated · outcome: distribution · pct low: 7 · pct high: 7 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Mr. Tallat advised that Affected Creditors would receive approximately less than 1¢ to 2¢ on the dollar in a liquidation scenario with a maximum recovery in a liquidation scenario being approximately 7¢ on the dollar but achieving this maximum range is highly unlikely for the reasons mentioned above. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Mr. Tallat advised that the Distribution under the Plan is 4¢ on the dollar of the Affected Creditor claims, which exceeds the projected recovery to Affected Creditors in a liquidation scenario. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · cents on dollar: 4 · claims qualifier: unstated · stated on: 2025-12-23 · table missing:
- report date23 December 2025
- report noSixth Report