Ontario · CCAA

This Twenty-Second Report (the “Twenty-Second Report”) has been prepared by the Monitor to provide information to the Court on: (a) the Applicants’ operations since the issuance of the Twentieth Report of the Monitor, dated January 19, 2022 (the “Twentieth Report”); (b) the Finch West Litigation (as defined below); (c) the Auditor Litigation (as defined below); (d) other litigation proceedings and settlements; (e) the current status of the P3 Projects (as defined below); (f) the current status of HST refunds owing from the Canada Revenue Agency (“CRA”) and the CRA audits; (g) the current status of the Potential LC Funds (as defined below); (h) the status of the Monitor’s transfer at undervalue proceedings; (i) the Applicants’ receipts and disbursements for the period from January 1, 2022 through December 30, 2022 compared to the cash flow forecast appended to the Twentieth Report; and (j) the Applicants’ updated cash flow forecast for the period from December 31, 2022 to January 26, 2024. This Twenty-Second Report has also been prepared to provide information to the Court on the Monitor’s motion for Orders: (a) extending the Stay Period to January 26, 2024; (b) providing certain supplementary relief as a consequence of the Bridging Assignment (as defined below); and (c) approving Amendment No. 5 to the Agent DIP Facility to be entered into by Zurich (as assignee of the Agent) and BCCL

Court officer report · 16 January 2023