British Columbia · NOI
Fourth Report of the Proposal Trustee
Court officer report · 12 May 2026
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What we verified from this filing8 verified
- cash on handnote: Closing cash balance at end of actual-to-budget period, prior to Third Cash Flow Forecast period · as at: 2026-05-03 · amount: 90917 · currency: CAD
- operational summaryThe Company continued to operate in the ordinary course during the SISP, paying suppliers and employees, while working toward closing a going-concern sale of substantially all its assets to the Successful Bidder.
- professional feesnote: Forecast figure, not actual incurred fees; approximately $307,000 in professional fees projected to be paid to the Proposal Trustee, Dentons, and Lawson · party: Proposal Trustee, Dentons, and Lawson (Company counsel and Proposal Trustee's counsel) · amount: 307496 · period: May 4, 2026 to May 31, 2026 (Third Cash Flow Forecast Period) · currency: CAD
- purchaser1574764 B.C. Ltd.
- recovery outcomeentries: basis: unstated · quote: The Proposal Trustee notes that the Proposed Sale Transaction will not result in any distribution to the Company's unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · claims amount: 7600000 · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: the Proposal Trustee is of the view that unsecured creditors are not prejudiced in these circumstances, as they would not receive any recovery in a bankruptcy scenario given the secured indebtedness owing to the Senior Lender, which the Proposal Trustee understands was approximately $11.1 million as at May 22, 2026, inclusive of amounts outstanding under the DIP Facility (the "Senior Secured I ndebtedness"). · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-05-12 · table missing:
- report date12 May 2026
- report noFourth Report
- sale outcometext: The Proposal Trustee's recommendations to the Court for approval of the Proposed Sale Transaction pursuant to the APA · scope: whole_business · status: pending_approval