Alberta · CCAA
Second Report of the Monitor
Court officer report · 15 February 2024
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What we verified from this filing9 verified
- cash on handnote: Held in the Monitor's estate trust account · as at: 2024-02-12 · amount: 111000 · currency: CAD · qualifier: approximately
- operational summaryFree Rein's wells were shut in after a force majeure declared by its gas processor, and the Company has since resumed limited production of about 60 boe/day from three oil wells while it pursues completion of a share-sale/reverse vesting transaction with Invico.
- process resultsnote: The Stalking Horse Term Sheet was the only Qualified Bid received by the Phase 2 bid deadline · as of: 2023-11-06 · qualified bids: 1
- professional feesnote: Additional fees of up to $125,000 are anticipated to complete the CCAA administration, and up to $50,000 for Residual Trust administration, per the RVO Term Sheet. · party: Monitor and Monitor's Counsel (including Proposal Trustee fees during NOI Proceedings) · amount: 496796 · period: June 12, 2023 to January 31, 2024 · currency: CAD
- purchaserInvico Diversified Income Limited Partnership
- report date14 February 2024
- report noSecond Report
- sale outcometext: Monitor recommends the Court approve the RVO Term Sheet, the SA and the Transaction · scope: whole_business · status: pending_approval
- stalking horseInvico Diversified Income Limited Partnership