Alberta · Proposal
Second Report of the Proposal Trustee (December 10, 2024)
Court officer report · 10 December 2024
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What we verified from this filing8 verified · 1 withheld
- 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 noSecond Report
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.