Ontario · CCAA
First Post Implementation Report dated August 9, 2022
Court officer report · 9 August 2022
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 filing5 verified
- cash on handnote: Metro's cash balance, excluding the Investment Reserve Account (approx. $973,000 as of report date) and the Creditor Distribution Pool Account (approx. $49,000 of uncashed distribution cheques). · as at: 2022-06-30 · amount: 1100000 · currency: CAD · qualifier: approximately
- operational summaryPost-plan, Metro continues operating and growing its consumer-packaged-goods distribution business and supporting its equity-interest Subsidiaries. It missed budget in H1 2022 (negative EBITDA of about $1.3M) but management projects sufficient liquidity and improved second-half performance. No distributions are projected at this time.
- professional feesnote: Excludes disbursements and HST. Monitor's counsel Bennett Jones LLP: approximately $3,537 for the same period. For Jan 1, 2022 to Feb 9, 2022 (Plan Implementation Date), fees were approx. $39,830 (Monitor) and $35,599 (Bennett Jones) against a Court-approved accrual of $100,000. · party: KSV Restructuring Inc. (Monitor) · amount: 43291 · period: February 10, 2022 to July 31, 2022 · currency: CAD
- report date9 August 2022
- report noFirst Post Plan Implementation Report