Nova Scotia · NOI
Second Report of the Proposal Trustee dated July 21, 2026
Court officer report · 21 July 2026
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: Actual closing cash for weeks 1-4 (June 8 - July 3, 2026) per the variance table, versus forecast closing cash of 79,244. This is also the opening cash of the Second Cash Flow Forecast. · as at: 2026-07-03 · amount: 31108 · currency: CAD
- disbursementsnote: Actual operating cash disbursements for the four-week period, versus forecast 16,084. No restructuring or legal fees were paid in the period. · since: Filing Date (June 8, 2026) to July 3, 2026 · amount: 8708 · currency: CAD
- operational summaryThe Company continues to operate its Truro-area residential rental buildings in the ordinary course, collecting tenant rents. A third-party property manager (PMco) has been engaged, and a sale and investment solicitation process is proposed to realize value.
- professional feesnote: Forecast, not incurred. The forecast table shows restructuring and legal of (348,000), which also includes other restructuring expenses (appraisals, environmental assessments); the Admin Charge sought is $150,000. Whether the 315,000 excludes HST is not stated. · party: Proposal Trustee, counsel to the Proposal Trustee, and Company counsel (aggregate) · amount: 315000 · period: Second Cash Flow Period, July 6 to October 30, 2026 · currency: CAD
- receipts cumulativenote: Actual cash receipts for the four-week period, versus forecast 25,552. · since: Filing Date (June 8, 2026) to July 3, 2026 · amount: 33495 · currency: CAD
- report date21 July 2026
- report noSecond Report
- sale outcometext: SISP procedures developed and pending Court approval; no successful bid yet selected · scope: whole_business · status: process_approved
- stalking horsestate: stated · is lender: false