Saskatchewan · CCAA
First Report of the Monitor,.doc
Court officer report · 27 January 2006
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 filing9 verified
- applicantBRICORE LAND GROUP LTD., BRICORE INVESTMENT GROUP LTD., 624796 SASKATCHEWAN LTD., 603767 SASKATCHEWAN LTD., 583261 SASKATCHEWAN LTD. and HORIZON WEST MANAGEMENT LTD.
- appointeeErnst & Young Inc.
- appointee rolemonitor
- commencement date4 January 2006
- courtIN THE QUEEN’S BENCH JUDICIAL CENTRE OF SASKATOON
- statutory basisCompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- secured creditorsnote: Balances outstanding as at December 31, 2005 per mortgage statements/amortization tables; mortgagees may also assert additional claims under defeasance/prepayment clauses, amounts not quantified; no aggregate total stated · page: 5 · as of: December 31, 2005 · debtor: Bricore Group properties (individual entities) · creditor: Existing first mortgagees (unnamed) · currency: CAD · security: Mortgages on individual properties
- secured creditorsnote: Existing mortgages exceed the appraised selling value of the property (undercollateralized); amount not stated · page: 6 · as of: December 31, 2005 · debtor: 583261 Saskatchewan Ltd. · creditor: Existing mortgagees on 583261 Saskatchewan Ltd. property · currency: CAD · security: Mortgage(s) on sole property
- secured creditorsnote: Second mortgage financing on majority of Bricore Group properties; subordinated secured loan payments condition of DIP facility · page: 7 · debtor: Bricore Group (majority of properties) · creditor: North Point Capital Corp. · currency: CAD · security: Second/subordinated secured mortgage loan; also proposed DIP lender