Ontario · CCAA
Tenth Report of the Monitor .PDF
Court officer report · 22 July 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 filing9 verified
- cash on handnote: Opening bank cash balance in the Cash Flow Forecast (in USD '000s), not a stated cash-on-hand figure for the report date itself; forecast figure. · amount: 119000 · currency: USD
- closing confirmedscope: the intellectual property and business assets · outcome: completed · effective: 2022-04-29 · date basis: stated · approval order date: 2022-04-26
- operational summaryNAFA has realized on the bulk of its assets, is winding down remaining operations by closing sales of its Polish and Wisconsin properties, collecting on insurance claims and rollover loans, and continuing to sell consigned fur pelts through auction houses.
- professional feesnote: Forecast figure representing accrued fees since beginning of February 2022 and fees related to pre-filing financial advisor work re Saga arrangement; also includes amount to advance insurance claims. · party: Applicants' professionals (including pre-filing financial advisor) · amount: 1200000 · period: forecast period July 4, 2022 to December 2, 2022 · currency: USD
- purchaserprice: sealed: false · scope: Certain intellectual property and business assets (e.g. computers and other assets necessary to support a fur auction business) · status: closed · name note: purchaser of intellectual property and business assets, unnamed · structure: auction · name source: recital · relationship: unstated; price: sealed: false · scope: NAFA's former European office and warehouse located in Poland · status: approved · name note: purchaser of the Polish property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: A warehouse in Stoughton, Wisconsin that NAFA formerly used for fur storage · status: approved · name note: purchaser of the Wisconsin property, unnamed · structure: real_property · name source: recital · relationship: unstated
- report date22 July 2022
- report noTenth Report
- sale advisorKPMG Inc. and KPMG Corporate Finance
- sale outcometext: NAFA has realized on the bulk of its assets for the benefit of its creditors, with the intellectual property/business asset sale closed and Polish and Wisconsin property sales pending closing. · scope: whole_business · status: closed