Ontario · NOI
Second Report without Appendices dated June 18, 2020
Court officer report · 18 June 2020
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What we verified from this filing8 verified
- cash on handnote: Actual ending cash balance per the six-week cash flow comparison ended June 7, 2020 · as at: 2020-06-07 · amount: 91080 · currency: CAD
- disbursementsnote: Actual cumulative total disbursements for the six-week Monitored Period ended June 7, 2020, shown as a negative outflow in the cash flow statement · since: April 27, 2020 · amount: 294350 · currency: CAD
- operational summaryKMW continued operating under NOI protection while the Proposal Trustee's stalking horse sale process failed to attract any competing qualified bids by the Bid Deadline; the Trustee now recommends court approval of the Stalking Horse APA sale of substantially all assets to the DIP Lender/Stalking Horse Bidder, who intends to retain all current employees, so the Company can exit NOI proceedings and continue as a going concern.
- professional feesnote: Aggregate includes HST of $8,064.28; fees alone were $62,032.94; to date $44,270.28 has been paid. WFK (Proposal Trustee's counsel) separately billed an aggregate of $7,474.69 (fees $6,449.00, disbursements $165.77, HST $859.92) for April 10, 2020 to June 17, 2020, of which $3,821.40 has been paid. · party: MNP Ltd. (Proposal Trustee) · amount: 70097.22 · period: March 18, 2020 to May 29, 2020 · currency: CAD
- receipts cumulativenote: Actual cumulative receipts for the six-week Monitored Period ended June 7, 2020 · since: April 27, 2020 · amount: 77005 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Accordingly, there is insufficient value in the Company's assets to allow for any distribution to unsecured creditors; · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date18 June 2020
- report noSecond Report