Ontario · CCAA
Fourth Report of the Monitor dated March 6, 2023
Court officer report · 6 March 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 615.44 · quote: The average hourly rates for the Monitor and Cassels for the referenced billing periods were $615.44 and $891.01, respectively. · scope: the Monitor · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. ('KSV') was appointed monitor of the Applicants (in such capacity, the 'Monitor') · context quote: KSV Restructuring Inc. ('KSV') was appointed monitor of the Applicants (in such capacity, the 'Monitor'); form: prose · rows: · money: fees: quote: During the period from December 1, 2022 to February 24, 2023, Cassels incurred fees including HST, in the amount of $89,911.28. · amount: 89911.28 · approximate: false · period: end: 2023-02-24 · kind: invoice · quote: During the period from December 1, 2022 to February 24, 2023, Cassels incurred fees including HST, in the amount of $89,911.28. · start: 2022-12-01 · approval: state: unstated · averages: rate: 891.01 · quote: The average hourly rates for the Monitor and Cassels for the referenced billing periods were $615.44 and $891.01, respectively. · scope: Cassels · currency: · invoices: · firm text: Cassels Brock & Blackwell LLP · firm quote: I am a Partner with Cassels Brock & Blackwell LLP (' Cassels '), counsel for KSV Restructuring Inc. · context quote: I am a Partner with Cassels Brock & Blackwell LLP (' Cassels '), counsel for KSV Restructuring Inc.
- recovery outcomeentries: basis: estimated · quote: Cortland is currently expected to suffer a significant shortfall under the ABL Agreement and potentially on the DIP Facility; · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Cortland (ABL Agreement) · creditor name: Cortland Credit Lending Corporation · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Trichome is anticipated to have no recovery under the Secured Promissory Note and the Secured Debenture; and · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Trichome (Secured Promissory Note and Secured Debenture) · creditor name: Trichome · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: certain post-filing vendors will not be paid. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: post-filing vendors · interim final: unstated · claims qualifier: unstated · stated on: 2023-03-06 · table missing: