British Columbia · Receivership (court-appointed)
Receiver's 5th Report to Court
Court officer report · 22 March 2024
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 filing7 verified
- cash on handnote: Held in the Receiver's trust account; stated to be fully committed to outstanding accounts payable and financial commitments to work projects to March 31, 2024. · as at: 2024-03-13 · amount: 2289438.85 · currency: CAD
- disbursementsnote: Period figure only, not cumulative since appointment. Includes operating expenses $12.98 million, effluent management $2.95 million, Receiver's fees $4.47 million, contract labour $1.23 million, taxes $1.26 million, among others. · since: April 7, 2023 (the Period, April 7, 2023 to March 13, 2024) · amount: 19270000 · currency: CAD
- operational summaryThe Receiver is not operating a business but carrying out de-risking, decommissioning and stabilization of the Mill Site: demolition and asbestos abatement are largely complete, while landfill closure, water treatment and marine demolition continue and have been delayed by unanticipated site conditions.
- professional feesnote: Receiver's fees of $4.47 million; Fasken's legal fees (counsel) of $198.8k in the same period. Tax treatment not stated. · party: Receiver (PricewaterhouseCoopers Inc.) · amount: 4470000 · period: April 7, 2023 to March 13, 2024 · currency: CAD
- receipts cumulativenote: Period figure only, not cumulative since appointment: $23 million Receiver borrowings, $16k miscellaneous receipts, $1.14 million GST refunds and collections, $238k interest. · since: April 7, 2023 (the Period, April 7, 2023 to March 13, 2024) · amount: 24400000 · currency: CAD
- report date22 March 2024
- report noFifth Report