British Columbia · CCAA
Monitor's Seventh Report to Court
Court officer report · 25 March 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Accordingly, certain of Distribution Entities' (as defined below) creditors owed Post-Substitution Arears will receive either no distribution, or a prorated distribution, for a combined shortfall to these creditors of approximately $141,000. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: monitor · class label: Distribution Entities' creditors owed Post-Substitution Arrears · interim final: unstated · claims qualifier: unstated · shortfall amount: 141000; basis: estimated · quote: Creditors owed Post-Substitution Arrears of Petitioners that are not Distribution Entities (as defined below) will receive no distribution, for a combined shortfall to these creditors of approximately $108,000. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Creditors owed Post-Substitution Arrears of Petitioners that are not Distribution Entities · interim final: unstated · claims qualifier: unstated · shortfall amount: 108000; basis: estimated · quote: A further shortfall of approximately $117,000 is contemplated for the source deduction deemed trust claim of the CRA for the period from the commencement of these CCAA proceedings to the Monitor's Substitution Date. · pct of: unstated · outcome: shortfall · class key: deemed_trust · stated by: monitor · class label: source deduction deemed trust claim of the CRA · creditor name: CRA · interim final: unstated · claims qualifier: unstated · shortfall amount: 117000; basis: actual · quote: the combined shortfall of approximately $366,000 to the Petitioners' post-filing creditors is the result of a significant and unexpected decrease in the Petitioners' revenue post-filing, as more thoroughly detailed in the Fourth Report; · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: monitor · class label: Petitioners' post-filing creditors · interim final: unstated · claims qualifier: unstated · shortfall amount: 366000; basis: unstated · quote: no payments are contemplated to post-filing creditors of Petitioner entities that are not Distribution Entities as these entities did not generate the Sale Proceeds; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: post-filing creditors of Petitioner entities that are not Distribution Entities · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: no payment is contemplated to be paid to the non-deemed trust portion of taxes owing for the period between the commencement of these CCAA proceedings to the Monitor's Substitution Date on the basis of the agreement with the Province of British Columbia and the CRA; · pct of: unstated · outcome: nil · class key: deemed_trust · stated by: monitor · class label: non-deemed trust portion of taxes owing (commencement of CCAA proceedings to Monitor's Substitution Date) · interim final: unstated · conditional on: agreement with the Province of British Columbia and the CRA · claims qualifier: unstated · table missing: