British Columbia · CCAA

The purpose of this seventh report (the “Seventh Report”) is to provide the Supreme Court of British Columbia with information pertaining to, inter alia: a) condensed background information in respect of the Petitioners and the Group; b) an update on the Monitor’s activities since it filed the Sixth Report; c) an update on the cash flow of the Petitioners, including: i. actual compared to forecast amounts for the period March 27, 2017 to June 23, 2017; ii. forecast for the period June 24, 2017 to July 31, 2017 (the “Seventh Report Forecast Period”); and iii. the requirement to defer pre-payments to the Network Providers and, in lieu of pre-payments, provide the Network Providers with a critical supplier charge; d) the provision of tariffed and mandated services from the Network Providers pursuant to the Orders and Tariffs of the CRTC; e) communications with the Canada Revenue Agency (“CRA”) and Revenu Quebec; f) the Monitor’s identification of additional creditors of the Petitioners that were not notified of these CCAA proceedings; g) issues with access to the Petitioners’ e-mail accounts maintained by Google; 10 h) the Teliphone Corp. claim; i) the retention of Lunny Atmore as legal counsel for Teliphone Corp.; j) the review of the assets of TNW Networks pursuant to Paragraph 6 of the Enhanced Monitor Powers Order; k) the Solicitation Process; l) the negotiations of an APA with the Selected Offeror; m) an update on the Claims Process; n) the prospect of alternative insolvency proceedings in respect of the Petitioners; o) the extension of the stay of proceedings; and p) the Monitor’s conclusions and recommendations

Court officer report · 27 June 2017