Ontario · CCAA
Seventh Report of the Monitor .PDF
Court officer report · 27 September 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 filing11 verified
- cash on handnote: Closing bank cash balance - CIBC Temp Account as at end of Reporting Period (March 20, 2021 to September 17, 2021) · as at: 2021-09-17 · amount: 1217904 · currency: USD
- closing confirmedscope: the Skyway Property · outcome: completed · effective: 2021-04-30 · date basis: stated · approval order date: 2021-04-07; scope: the Williams Property · outcome: completed · effective: 2021-09-10 · date basis: stated
- disbursementsnote: Total Disbursements for the Reporting Period March 20, 2021 to September 17, 2021 · since: March 20, 2021 (start of Reporting Period) · amount: 2066402 · currency: USD
- operational summaryNAFA continues to wind down and monetize its non-core assets (real property, insurance claims, rollover loans) while relying on auction proceeds from Saga, KF and AME to pay down its Syndicate Debt, and is seeking expressions of interest for a potential transaction involving its remaining business.
- professional feesnote: Approximate total; represents NAFA's counsel in both North America and Europe, the Monitor and its counsel, legal and financial advisors to the Agent and BDC, and foreign counsel relating to Blackglama trademark matters, and accounting fees · party: various professional service firms (NAFA's counsel in North America and Europe, the Monitor and its counsel, legal and financial advisors to the Agent and BDC, foreign counsel, and accounting firms) · amount: 1500000 · period: March 20, 2021 to September 17, 2021 · currency: USD
- purchaserprice: sealed: false · currency: USD · scope: the Skyway Property · status: closed · name note: unnamed purchaser of the Skyway Property · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · currency: USD · scope: the Williams Property · status: closed · name note: unnamed purchaser of the Williams Property, offer from Star Holding Inc. not accepted · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Total Receipts for the Reporting Period March 20, 2021 to September 17, 2021 · since: March 20, 2021 (start of Reporting Period) · amount: 8282817 · currency: USD
- report date27 September 2021
- report noSeventh Report
- sale advisorKPMG Inc. and KPMG Corporate Finance
- sale outcometext: results of closing of the Skyway Transaction and sale of the Williams Property; ongoing efforts to seek Expressions of Interest · scope: parcel · status: closed