Ontario · CCAA
Second Report of the Monitor dated August 6, 2025
Court officer report · 6 August 2025
Also filed as: Second Report of the Monitor dated August 6, 2025
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 filing8 verified · 6 withheld
- commencement date15 May 2025
- courtOntario Superior Court of Justice (Commercial List)
- court file noCV-25-00743383-00CL
- proceeding typeCCAA proceeding (Companies' Creditors Arrangement Act)
- provinceOntario
- statutory basisCompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (CCAA); Section 10(2)(b) of the CCAA for the cash flow report.
- secured creditors1001112855 Ontario Inc. (855 Ontario) is the Applicants' principal secured creditor, owed approximately $17.8 million as of July 4, 2025 in respect of the Loan Agreement and Bridge Loan; RBC previously held the senior secured position before assigning it to 855 Ontario.
- financial positionThe Updated Cash Flow Forecast reflects that the Applicants are projected to require advances of $2.15 million under the DIP Facility during the Projection Period; as of the Report date, $1.8 million had been borrowed and approximately $225,000 incurred for professional fees and other costs, necessitating an increase in the DIP Facility from $2.8 million to $4.2 million.
6 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.