Quebec · CCAA
03 Fourth Report of the Monitor - May 1st, 2025
Court officer report · 1 May 2025
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What we verified from this filing8 verified
- operational summaryFollowing the sale of the Rocky Mountain division's assets, the majority of the Applicants' employees will be terminated, with a limited number retained during a transition period, while the Monitor and Applicants work toward completing the Faucher and Rocky sale transactions and an orderly wind-down of the CCAA proceedings.
- process resultsbids: 4 · lois: 8 · ndas: 59 · note: Phase 1 LOIs: 8 by February 14, 2025; Phase 2 Binding Offers: 4 by March 14, 2025 · as of: 2025-03-14 · solicited: 220 · qualified bids: 8
- purchaserRocky Purchaser
- recovery outcomeentries: basis: estimated · quote: Given that the net proceeds of the assets purchased will be inferior to the secured debt held by Roynat, the remaining secured creditor that holds security against the purchased assets, it is not anticipated that Roynat will be fully repaid under the proposed transaction. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Roynat · creditor name: Roynat · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As such, the Monitor does not believe that there will be any distribution to unsecured creditors at this time. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · conditional on: at this time · claims qualifier: unstated · table missing:
- report date1 May 2025
- report noFourth Report
- sale advisorErnst & Young Orenda Corporate Finance (Canada) Inc.
- sale outcometext: Rocky APA executed and pending approval of the Rocky Approval and Vesting Order · scope: parcel · status: pending_approval