British Columbia · CCAA
Sixth Report of the Monitor dated May 19, 2023
Court officer report · 19 May 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Sprott, as the Company's principal economic stakeholder and Interim Lender, has consented to the Transaction notwithstanding the substantial shortfall it will incur on its advances to the Company; · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Sprott (Interim Lender/secured creditor) · creditor name: Sprott · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Given the value of Sprott's secured claims, and its projected significant shortfall, there would be no funds available for distribution to any of the Company's creditors subordinate to Sprott under any other realization scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors subordinate to Sprott · interim final: unstated · conditional on: under any other realization scenario · claims qualifier: unstated; basis: unstated · quote: In other words, there would be no funds available for distribution to these creditors under any circumstance based on the economics of the Transaction. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors of ResidualCo (liabilities transferred to ResidualCo) · interim final: unstated · conditional on: based on the economics of the Transaction · claims qualifier: unstated · table missing: