Ontario · Foreign recognition (CCAA)
First Report of the Information Officer (Richter)
Court officer report · 1 April 2019
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 filing4 verified
- financial positionnote: Document states 'The Debtors are not party to any secured financing arrangements or any third party credit facilities' (ITC has no secured creditors) · page: 31 · as at: 2018-12-31 · basis: most recent internal unaudited financial information for ITC · scope: entity-level - Imerys Talc Canada Inc. only (Debtors do not independently report; normally consolidated with Imerys Group) · currency: CAD · total assets: 40300000 · total liabilities: 16200000
- unsecured creditorsnote: Also stated as CAD$6.2 million equivalent; majority relate to amounts accrued for goods or services rendered but not invoiced as at Petition Date; document names no individual creditors · page: 31 · as of: Petition Date · basis: Reported by Proposed Information Officer based on Debtors' information · amount: 4700000 · debtor: Imerys Talc Canada Inc. · creditor: Unsecured trade payables (aggregate as reported) · currency: USD
- unsecured creditorsnote: This is a receivable owed TO ITC by the Parent (related party), not a payable owed by ITC; included for completeness of intercompany position - also stated as CAD$4.5 million cash on hand separately; not a liability of ITC · page: 31 · as of: Petition Date · basis: Reported by Proposed Information Officer based on Debtors' information · amount: 3000000 · debtor: Imerys Talc Canada Inc. · creditor: Imerys S.A. (Parent) - intercompany payable owed BY Parent TO ITC · currency: USD
- secured creditors