British Columbia · Receivership (court-appointed)
Receiver's 4th Report to Court
Court officer report · 5 May 2023
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: $1.6 million of the cash is fully committed to outstanding accounts payable and financial commitments to work projects in process as of that date. · as at: 2023-04-06 · amount: 2400000 · currency: CAD
- disbursementsnote: Cumulative total from the Statement of Receipts and Disbursements; for the Period April 9, 2022 to April 6, 2023, disbursements were $27.3 million. · since: April 14, 2020 (appointment) to April 6, 2023 · amount: 67899191.01 · currency: CAD
- operational summaryThe debtor's mill is abandoned and the Receiver is decommissioning and stabilizing the Mill Site: removing hazardous materials, demolishing buildings, treating effluent, and planning closure of the Main Landfill and marine infrastructure demolition, subject to regulatory approvals.
- professional feesnote: Fees of $4.6 million over ~13,000 hours, plus disbursements of $218k and taxes of $238k, for a total of $5 million. Fasken (counsel) invoiced fees of $141k over ~310 hours, disbursements of $1.17k and taxes of $17k, total $159k. · party: PricewaterhouseCoopers Inc. (Receiver) · amount: 4600000 · period: April 1, 2022 to March 31, 2023 · currency: CAD
- receipts cumulativenote: Cumulative total from the Statement of Receipts and Disbursements; for the narrower Period April 9, 2022 to April 6, 2023, receipts were $29.3 million (including $27.4 million of Receiver borrowings). · since: April 14, 2020 (appointment) to April 6, 2023 · amount: 70343386.46 · currency: CAD
- report date5 May 2023
- report noFourth Report