Alberta · CCAA
Second Report of the Monitor - Filed
Court officer report · 13 February 2020
What we verified from this filing8 verified
- cash on handnote: Beginning cash balance for the Forecast Period, per the cash flow forecast · as at: 2020-02-01 · amount: 905762 · currency: CAD
- disbursementsnote: Actual total disbursements for the 10 Week Variance Period · since: November 29, 2019 (CCAA filing) to February 1, 2020 · amount: 976198 · currency: CAD
- operational summaryThe Companies have ceased normal operations and are advancing a Court-approved Sale Process for their assets, retaining only one employee to assist, while cooperating with the Monitor and CIBC pending an extension of the stay.
- professional feesnote: Approximate figure; includes roll forward of a positive variance of $133,200 from the Variance Period · party: Monitor, Monitor's legal counsel, TIC's legal counsel and the Companies' legal counsel · amount: 475000 · period: thirteen-week period ending May 2, 2020 · currency: CAD
- receipts cumulativenote: Actual total receipts for the 10 Week Variance Period · since: November 29, 2019 (CCAA filing) to February 1, 2020 · amount: 1881960 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: As CIBC is the Companies primary secured lender and, as there will likely be a shortfall in satisfying CIBC's claim in these proceedings, there is no prejudice to the Companies' other creditors by deferring these payments. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: CIBC · creditor name: CIBC · interim final: unstated · claims qualifier: unstated · table missing:
- report date13 February 2020
- report noSecond Report of the Monitor