Ontario · CCAA
Fourth Report to the Court dated
Court officer report · 12 June 2025
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 filing7 verified
- cash on handnote: Closing cash balance at end of the Monitored Period (actual, per statement of receipts and disbursements comparison). · as at: 2025-06-06 · amount: 809232 · currency: CAD
- disbursementsnote: Actual total disbursements for the eleven week Monitored Period ended June 6, 2025. · since: March 24, 2025 · amount: 5152627 · currency: CAD
- operational summaryThe Company continues construction of the 1451 Wellington condominium project (approximately 85% complete pre-report), funded through DIP financing, while pursuing a 'Reset Model' to renegotiate certain pre-sale purchase agreements ahead of anticipated phased occupancy beginning July 2025.
- professional feesnote: Compared to projected $210,000, an unfavourable variance of $74,706 noted as likely permanent. · party: CCAA professionals (Monitor, Monitor's counsel, Company's counsel) - cumulative actual for Monitored Period · amount: 284706 · period: March 24, 2025 to June 6, 2025 · currency: CAD
- receipts cumulativenote: Actual total receipts for the eleven week Monitored Period ended June 6, 2025. · since: March 24, 2025 · amount: 5871182 · currency: CAD
- report date12 June 2025
- report noFourth Report