Alberta · Proposal
Second Report of the Proposal Trustee (December 10, 2024)
Court officer report · 10 December 2024
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 filing9 verified
- cash on handas at: 2024-12-06 · amount: 20733 · currency: CAD
- closing confirmedscope: Switch's assets · outcome: completed · purchaser: Sitka Power Services Inc. · date basis: unstated · approval order date: 2024-11-05
- operational summaryThe Company has completed the sale of its going-concern power generation assets (Sitka Transaction) and is now negotiating separate sales of its remaining development projects and its 49% joint venture interest, operating with minimal staff while seeking an extension to file a proposal.
- process resultsbids: 0 · note: Ultimately, no bids were received for the Development Project Sale or Joint Venture Sale; of the 20 parties initially contacted, only Cardon and Pace expressed continued interest. · solicited: 20
- professional feesnote: Combined figure for Harris & Partners Inc., Lawson Lundell LLP (Proposal Trustee's counsel) and Miller Thomson LLP (Company's counsel); compared to forecast of $45,000. · party: Proposal Trustee, Proposal Trustee's Counsel, and Company's Counsel · amount: 81546 · period: October 10, 2024 to December 6, 2024 · currency: CAD
- purchaserSitka Power Services Inc.; Pace Canada LLP; Cardon
- receipts cumulativesince: October 10, 2024 (start of Reporting Period) · amount: 28805 · currency: CAD
- report date10 December 2024
- report noSecond Report