Ontario · CCAA
a) information with respect to: i) the funds received by the Monitor from the Sale Transaction and cash on hand of 157 Ontario; ii) disbursements for post filing goods and services made by the Monitor on behalf of 157 Ontario; and ii) distributions made by the Monitor on behalf of 157 Ontario; b) information with respect to the Claim process; and c) 157 Ontario's request for an extension of the stay of proceedings until March 31, 2020
Court officer report · 10 December 2019
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 filing6 verified
- disbursementsnote: Line B, disbursements for post-filing goods/services; distributions (line C) totalling $3,967,273.66 are reported separately and are not included in this figure. · since: closing of the Sale Transaction, through November 26, 2019 · amount: 362234.55 · currency: CAD
- operational summary157 Ontario completed the sale of its business (the Sale Transaction) and is described in the past tense as a software provider; the proceedings are now focused on resolving claims, a pending CRA unsecured claim review, and an eventual distribution to unsecured creditors.
- professional feesnote: Monitor fees as disbursed for post-filing goods/services; the same table also shows accounting services of $23,566.18, legal fees of $147,826.24, and Claims Officer fees and expenses of $15,784.50. Whether any amounts exclude HST is not stated for the Monitor fees line (HST paid is shown separately at $41,353.67). · party: Monitor (Ernst & Young Inc.) · amount: 131756.01 · period: to November 26, 2019 · currency: CAD
- receipts cumulativenote: Total receipts received by Monitor (line A); a separate US$ column shows US$1,159,128.92 funded by the purchaser. · since: closing of the Sale Transaction (March 13, 2019), through November 26, 2019 · amount: 5675551.11 · currency: CAD
- report date10 December 2019
- report noThird Report of the Monitor