Ontario · CCAA
Fifth Post Plan Implementation Report dated August 7, 2024
Court officer report · 7 August 2024
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
- cash on handnote: Metro's cash balance only; the Investment Reserve Account separately holds approximately $646,000 and the Creditor Distribution Pool Account approximately $42,000. · as at: 2024-08-01 · amount: 60000 · currency: CAD · qualifier: approximately
- operational summaryMetro ceased its CPG distribution business in February 2024 and is now a holding company managing its investments in the Subsidiaries, with no expected cash receipts other than tax refunds and ULS dividends; no distributions to Affected Creditors are foreseeable.
- professional feesnote: Excludes disbursements and HST. Monitor's legal counsel Bennett Jones LLP fees for the same period are approximately $4,000 (also excluding disbursements and HST). · party: KSV Restructuring Inc. (Monitor) · amount: 15000 · period: February 1, 2024 to July 31, 2024 · currency: CAD
- recovery outcomeentries: basis: actual · quote: On or around February 18, 2022, the CCAA Entities made the Initial Distribution of approximately $4.7 million in respect of the Proven Claims. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 4700000 · cumulative: false · amount high: 4700000 · class label: Affected Creditors with Proven Claims · claims amount: 18600000 · interim final: unstated · claims qualifier: proven · stated on: 2024-08-07 · table missing:
- report date7 August 2024
- report noFifth Post Plan Implementation Report