Ontario · CCAA
Second Report of the Monitor dated January 4, 2022
Court officer report · 4 January 2022
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 filing7 verified
- operational summaryMedifocus has halted sales of Prolieve since May 2021 and the Updated Cash Flow Projection shows no sales until the stalking horse sale closes; operating cash needs are expected to be covered by the court-approved DIP financing while the sale transaction is completed.
- process resultsbids: 0 · note: No Binding APAs other than the Stalking Horse Agreement were received by the Bid Deadline · as of: 2021-11-22 · qualified bids: 0
- purchaserAsset Profits Limited
- report date4 January 2022
- report noSecond Report
- sale outcometext: No other bids were received; Stalking Horse Agreement declared Successful Bid, requiring extension of timeline to close · scope: whole_business · status: bid_selected
- stalking horseAsset Profits Limited (1079818.85)