Ontario · CCAA
Eighth Report of the Monitor
Court officer report · 21 March 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 filing7 verified
- cash on handnote: Stated as 'Remaining funds held by Monitor' (CDN $ column) in the summary of sale proceeds and distributions/disbursements to February 28, 2022; the U.S. $ column shows zero remaining. · as at: 2022-02-28 · amount: 1273630.3 · currency: CAD
- disbursementsnote: Line B, disbursements for post-filing goods/services (CDN column), shown as a negative; a separate U.S. $ column shows (89.91). Distributions to creditors are a separate line C (3,967,273.66 CDN). · since: post-filing, to February 28, 2022 · amount: 690475.85 · currency: CAD
- operational summary157 Ontario's business was sold in the March 2019 Sale Transaction; the estate is continuing the CRA appeal process in respect of the assessment and seeking a stay extension to September 30, 2022, with remaining funds earmarked for estate obligations and an eventual distribution to unsecured creditors.
- professional feesnote: Monitor fees paid as post-filing disbursements; the report also lists accounting services (51,549.16), legal fees (247,506.24), HST paid (78,139.76) and Claims Officer fees and expenses (15,784.50). Whether Monitor fees exclude HST is not stated (HST is shown as a separate line). · party: Monitor (Ernst & Young Inc.) · amount: 282423.66 · period: post-filing disbursements through February 28, 2022 · currency: CAD
- receipts cumulativenote: Stated as 'Total receipts received by Monitor' (line A) to February 28, 2022. · since: closing of the Sale Transaction (CDN column); a separate U.S. $ column shows 1,158,383.69 · amount: 5931379.81 · currency: CAD
- report date21 March 2022
- report noEighth Report of the Monitor