Ontario · CCAA
a) information with respect to: i) the funds received by the Monitor from the Sale Transaction and cash on hand of 157 Ontario; ii) disbursements for post filing goods and services made by the Monitor on behalf of 157 Ontario; and ii) distributions made by the Monitor on behalf of 157 Ontario; b) information with respect to the Claim process; and c) 157 Ontario's request for an extension of the stay of proceedings until December 31, 2020
Court officer report · 18 March 2020
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: Remaining funds held by the Monitor (CDN column) per the sale proceeds and distributions summary table; a separate US$747.99 is also held. The table is headed 'To March 11, 2019' but the report states it is a further updated summary as of this report; no explicit as-at date is given for the remaining-funds figure. · amount: 1285990.9 · currency: CAD
- disbursementsnote: Subtotal of disbursements for post-filing goods/services (CDN column), excluding distributions to creditors/stakeholders of $3,967,273.66. U.S.$ column disbursements total 89.91. · since: closing of the Sale Transaction (March 2019); post-filing goods and services · amount: 434516.37 · currency: CAD
- operational summaryThe debtor's business was sold to Bridgeline Digital, Inc. in March 2019 and the company is no longer operating; the CCAA proceedings continue to resolve claims (notably CRA's), fund a distribution to unsecured creditors, and a stay extension to December 31, 2020 is sought.
- professional feesnote: No single total stated. Table shows Monitor fees $155,159.44, accounting services $29,694.93, legal fees $174,791.81 and Claims Officer fees and expenses $15,784.50; HST paid $48,833.42 is shown as a separate line, so these amounts appear to exclude HST. · party: Monitor (EY), accounting services, and legal counsel · period: post-filing, to date of report · currency: CAD
- receipts cumulativenote: CDN column total of receipts. Separate U.S.$ column total receipts is 1,159,131.68 (US$, funded by purchaser). · since: closing of the Sale Transaction (March 2019); receipts by the Monitor · amount: 5687780.93 · currency: CAD
- report date18 March 2020
- report noFourth Report of the Monitor