Ontario · CCAA
Thirty-Eighth Report of the Monitor, dated November 9, 2022
Court officer report · 9 November 2021
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 filing6 verified
- cash on handnote: Cash and cash equivalents; $4.0 million higher than forecast, primarily due to lower than forecast Arbitration and CCAA costs. The Variance Statement shows an ending cash balance of 95,205 (rounded figures, presumably in thousands). · as at: 2021-09-30 · amount: 95200000 · currency: USD · qualifier: approximately
- disbursementsnote: Period figure from the Variance Statement (Appendix D), not cumulative since filing; total disbursements (6,804) versus forecast (10,959), presumably in thousands: general corporate expenses (1,021) and arbitration and CCAA costs (5,783). · since: April 1, 2021 (period April 1, 2021 to September 30, 2021) · amount: 6804000 · currency: USD
- operational summaryCrystallex has no operating business; it is funded by DIP financing and is focused on enforcing and realizing on its arbitration Award against Venezuela, mainly through U.S. enforcement proceedings, with most expenditures being legal fees. It seeks a 12-month stay extension to November 18, 2022.
- receipts cumulativenote: Period figure from the Variance Statement (Appendix D), not cumulative since filing; shown as (115) (presumably thousands), a net negative due to foreign exchange losses. The Applicant has not received any Venezuela receipts during the period. · since: April 1, 2021 (period April 1, 2021 to September 30, 2021) · amount: -115000 · currency: USD
- report date9 November 2021
- report noThirty-Eighth Report