Ontario · NOI
Second Report of Richter Advisory Group Inc. in its capacity as Trustee under the Notice of Intention to make a Proposal of Junction Craft Brewing Inc. – dated December 14, 2021
Court officer report · 14 December 2021
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What we verified from this filing11 verified · 1 withheld
- cash on handas at: 2021-12-11 · amount: 200000 · currency: CAD · qualifier: approximately
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · label: the Period · quote: during the Period at an average blended hourly rate of $447.08 · approval: state: unstated · averages: rate: 447.08 · quote: at an average blended hourly rate of $447.08 · currency: · invoices: · firm text: Richter Advisory Group Inc. · firm quote: SECOND REPORT OF RICHTER ADVISORY GROUP INC. IN ITS CAPACITY AS TRUSTEE UNDER THE NOTICE OF INTENTION TO MAKE A PROPOSAL OF JUNCTION CRAFT BREWING INC. · hours total: quote: expended a total of 303.45 professional hours during the Period · value: 303.45 · context quote: In the course of performing its duties as Trustee and financial advisor, Richter's staff has expended a total of 303.45 professional hours during the Period at an average blended hourly rate of $447.08.; form: prose · rows: · money: total: quote: an account dated November 30, 2021 in the amount of $5,755.07 · amount: 5755.07 · approximate: false · period: end: 2021-11-30 · kind: invoice · quote: an account dated November 30, 2021 in the amount of $5,755.07 in respect of the period from November 14, 2021 to November 30, 2021 · start: 2021-11-14 · approval: state: unstated · averages: rate: 499.71 · quote: The average hourly rate of Aird & Berlis LLP is $499.71. · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: The average hourly rate of Aird & Berlis LLP is $499.71. · context quote: an account dated November 30, 2021 in the amount of $5,755.07 in respect of the period from November 14, 2021 to November 30, 2021;
- operational summaryJunction continued operating its craft brewery business as a going concern during the NOI proceedings while conducting a court-supervised sale process, ultimately resulting in a share purchase transaction with the stalking horse purchaser to preserve jobs and continue operations.
- process resultsbids: 0 · ndas: 25 · note: 25 parties executed NDAs; one conducted a site tour; no offers other than the Stalking Horse Purchaser's were received · as of: 2021-12-09 · qualified bids: 0
- professional feesnote: Excludes sales tax; disbursements of $2,558.31 separately stated; Aird & Berlis (counsel) fees of $26,584.50 plus $94.00 disbursements for October 18, 2021 to November 30, 2021, also excluding sales tax · party: Richter Advisory Group Inc. (Trustee) · amount: 135665 · period: August 30, 2021 to December 9, 2021 · currency: CAD
- purchaser1000003509 Ontario Limited
- recovery outcomeentries: basis: liquidation_alternative · quote: Consequently, the Trustee estimates that, in a liquidation scenario, there would be no funds available from realizing on the Company's assets to satisfy obligations owing to any of Junction's creditors ranking subordinate to FCC, its unsecured creditors, or its shareholders. · pct of: unstated · outcome: nil · class key: equity · stated by: trustee · class label: Junction's creditors ranking subordinate to FCC, its unsecured creditors, or its shareholders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Based on the Liquidation Analysis, which, among other things, considers the findings from the Appraisal Report, the Trustee estimates that the recoveries from the Company's assets in a liquidation, net of any costs of realization, would result in a significant shortfall to FCC. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: FCC · creditor name: Farm Credit Canada · interim final: unstated · claims qualifier: unstated · table missing:
- report date14 December 2021
- report noSecond Report
- sale advisorRichter Advisory Group Inc.
- sale outcometext: No offers other than the offer from the Stalking Horse Purchaser were received; the Stalking Horse Purchaser was deemed the winning bidder pending Court approval · scope: whole_business · status: bid_selected
1 extracted value is 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.