Alberta · NOI
Fourth Report of the Proposal Trustee dated January 30, 2023
Court officer report · 30 January 2023
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What we verified from this filing7 verified
- closing confirmedscope: the Canadian Transaction · outcome: completed · effective: 2022-12-19 · purchaser: Terrafix Geosynthetics Inc. · date basis: stated · approval order date: 2022-11-28; scope: the US Transaction · outcome: completed · effective: 2023-01-27 · purchaser: Hanes Companies, Inc. · date basis: stated · approval order date: 2022-11-28
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2022-12-31 · kind: invoice · quote: approving the fees and disbursements of the Proposal Trustee for the period commencing on October 1, 2022 and ending on December 31, 2022; · start: 2022-10-01 · approval: quote: approving the fees and disbursements of the Proposal Trustee for the period commencing on October 1, 2022 and ending on December 31, 2022; · state: sought · averages: rate: 591.28 · quote: The average hourly rates for KSV, Cassels and Lewis Roca for the referenced billing periods were $591.28, $778.70 and US$583.92, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: Fourth Report to Court of KSV Restructuring Inc. as Proposal Trustee of Nilex Inc. and Nilex USA Inc. · context quote: approving the fees and disbursements of the Proposal Trustee for the period commencing on October 1, 2022 and ending on December 31, 2022;; form: prose · rows: · money: approximate: false · period: end: 2022-12-16 · kind: invoice · quote: approving the fees and disbursements of the Proposal Trustee's legal counsel, Cassels Brock & Blackwell LLP ('Cassels'), for the period commencing on October 6, 2022 and ending December 16, 2022; and · start: 2022-10-06 · approval: quote: approving the fees and disbursements of the Proposal Trustee's legal counsel, Cassels Brock & Blackwell LLP ('Cassels'), for the period commencing on October 6, 2022 and ending December 16, 2022; and · state: sought · averages: rate: 778.7 · quote: The average hourly rates for KSV, Cassels and Lewis Roca for the referenced billing periods were $591.28, $778.70 and US$583.92, respectively. · scope: Cassels · currency: · invoices: · firm text: Cassels Brock & Blackwell LLP · firm quote: the Proposal Trustee's legal counsel, Cassels Brock & Blackwell LLP ('Cassels'), · context quote: approving the fees and disbursements of the Proposal Trustee's legal counsel, Cassels Brock & Blackwell LLP ('Cassels'), for the period commencing on October 6, 2022 and ending December 16, 2022; and; form: prose · rows: · money: approximate: false · period: end: 2022-12-13 · kind: invoice · quote: approving the fees and disbursements of the Proposal Trustee's US legal counsel, Lewis Roca Rothgerber Christie LLP ('Lewis Roca'), for the period commencing on November 14, 2022 and ending December 13, 2022. · start: 2022-11-14 · approval: quote: approving the fees and disbursements of the Proposal Trustee's US legal counsel, Lewis Roca Rothgerber Christie LLP ('Lewis Roca'), for the period commencing on November 14, 2022 and ending December 13, 2022. · state: sought · averages: rate: 583.92 · quote: The average hourly rates for KSV, Cassels and Lewis Roca for the referenced billing periods were $591.28, $778.70 and US$583.92, respectively. · scope: Lewis Roca · currency: code: USD · quote: US$583.92 · invoices: · firm text: Lewis Roca Rothgerber Christie LLP · firm quote: the Proposal Trustee's US legal counsel, Lewis Roca Rothgerber Christie LLP ('Lewis Roca'), · context quote: approving the fees and disbursements of the Proposal Trustee's US legal counsel, Lewis Roca Rothgerber Christie LLP ('Lewis Roca'), for the period commencing on November 14, 2022 and ending December 13, 2022.
- process resultsbids: 4 · note: Valitas compiled a list of over 400 prospective purchasers; four going-concern offers were submitted · as of: 2022-11-18 · solicited: 400 · qualified bids: 4
- purchaserTerrafix Geosynthetics Inc.; Hanes Companies, Inc.
- recovery outcomeentries: basis: unstated · quote: CIBC, which will be repaid in full from the Transaction, is supportive of the Transaction. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: CIBC · creditor name: CIBC · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Fulcrum supports approval of the Transaction notwithstanding that it will incur a substantial shortfall on its advances to the Company; · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: Fulcrum · creditor name: Fulcrum · interim final: unstated · claims qualifier: unstated · stated on: 2023-01-30 · table missing:
- sale advisorValitas Capital Partners
- sale outcometext: The Transaction closed with both the Canadian and US Purchasers. · scope: whole_business · status: closed