Manitoba · CCAA
Third Report of the Monitor
Court officer report · 8 September 2023
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 filing4 verified
- closing confirmedscope: the Purchased Assets · outcome: not_completed · purchaser: Stephen Segal (in trust for a corporation or corporations to be formed) · date basis: unstated · approval order date: 2023-07-21
- purchaserStephen Segal
- recovery outcomeentries: basis: estimated · quote: $293,172 on account of the Monitor's outstanding fees and disbursements (as further detailed below); · pct of: unstated · outcome: distribution · class key: court_charges · stated by: monitor · amount low: 293172 · cumulative: false · amount high: 293172 · class label: Administration Charge - Monitor's outstanding fees and disbursements · creditor name: Monitor · interim final: unstated · conditional on: should the Transaction close in the extended timeframe contemplated by the Amending Agreement · claims qualifier: unstated; basis: estimated · quote: $209,562 on account of the Monitor's legal counsel's outstanding fees and disbursements (as further detailed below); and · pct of: unstated · outcome: distribution · class key: court_charges · stated by: monitor · amount low: 209562 · cumulative: false · amount high: 209562 · class label: Administration Charge - Monitor's legal counsel's outstanding fees and disbursements · creditor name: Monitor's legal counsel · interim final: unstated · conditional on: should the Transaction close in the extended timeframe contemplated by the Amending Agreement · claims qualifier: unstated; basis: estimated · quote: $197,757 on account of the Applicant's legal counsel's outstanding fees and disbursements; and · pct of: unstated · outcome: distribution · class key: court_charges · stated by: monitor · amount low: 197757 · cumulative: false · amount high: 197757 · class label: Administration Charge - Applicant's legal counsel's outstanding fees and disbursements · creditor name: Applicant's legal counsel · interim final: unstated · conditional on: should the Transaction close in the extended timeframe contemplated by the Amending Agreement · claims qualifier: unstated; basis: estimated · quote: Repayment of the DIP Facility to the maximum amount of $2,350,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 2350000 · cumulative: false · amount high: 2350000 · class label: DIP Lender's Charge · creditor name: DIP Lender · interim final: unstated · conditional on: should the Transaction close in the extended timeframe contemplated by the Amending Agreement · claims qualifier: unstated · stated on: 2023-09-08 · table missing:
- sale outcometext: Transaction approved by AVO but not yet closed; Sale Agreement amended to extend closing date after purchaser's financing fell through · scope: whole_business · status: not_completed