Quebec · CCAA
Third report of the Monitor
Court officer report · 22 August 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 filing6 verified
- operational summarySinobec continues to operate under CCAA protection, conducting COD sales of inventory and collecting pre-filing receivables funded by an interim DIP facility, while the second phase of the SISP continues and the Monitor investigates the F2F accounts receivable.
- professional feesnote: Stated in USD $000's (actual $361K vs budget $433K); lower than forecast by $73K due to timing differences as some invoiced amounts are outstanding. Forecast professional fees for Aug 29 to Oct 3, 2025 are $520K. · party: Professional fees (Monitor, its counsel, Sinobec's counsel and DIP lenders' counsel) per budget-to-actual analysis · amount: 361 · period: July 18 to August 15, 2025 · currency: USD
- report date20 August 2025
- report noThird Report
- sale advisorPricewaterhouseCoopers Corporate Finance Inc.
- sale outcometext: SISP Phase II underway; timeline for consideration of binding offers extended · scope: whole_business · status: process_approved