Quebec · CCAA
Fifth Report of the Monitor
Court officer report · 2 May 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
- cash on handnote: Ending cash balance per the statement of receipts and disbursements; outstanding cheques of $158,083 and post-filing accounts payable of $107,934 are not reflected in it. · as at: 2016-04-23 · amount: 5600398 · currency: CAD · qualifier: approximately $5,600,000 per the narrative
- disbursementsnote: Total outflows on a cash basis. For the 6-week period March 13 to April 23, 2016, cash disbursements were $3,233,687. · since: November 12, 2015 (Initial Order) to April 23, 2016 (approximately 24 weeks) · amount: 8240646 · currency: CAD
- operational summaryBluberi continues to operate as a going concern with 67 employees, installing EGMs on revenue-share or lease terms, while a going-concern sale to Callidus under the SSP is being finalized through an APA that remains subject to gaming-licence approvals. The Monitor considers cash sufficient to fund operations through the projection period (other than amounts owed to Callidus) and supports a stay extension to July 29, 2016.
- professional feesnote: Other professional disbursements in the same 6-week period (cash basis): Legal fees (CCAA) $164,808; US Legal fees (CCAA) $296,338; Legal fees (Monitor) $133,179; CRO fees $105,045; Other professional fees $124,796. Cumulative Monitor fees since Nov 12, 2015: $1,099,355. Tax treatment not stated. · party: Monitor (Ernst & Young Inc.) — Monitor fees (CCAA) · amount: 444507 · period: March 13 to April 23, 2016 (6 weeks), cash basis · currency: CAD
- purchaserCallidus
- receipts cumulativenote: Total inflows on a cash basis. For the 6-week period March 13 to April 23, 2016, cash receipts were $1,715,732. · since: November 12, 2015 (Initial Order) to April 23, 2016 (approximately 24 weeks) · amount: 13747028 · currency: CAD
- report date2 May 2016
- report noFifth Report of the Monitor
- sale outcometext: Callidus retained as successful offer, APA to be finalized and closed subject to conditions · scope: whole_business · status: bid_selected