Alberta · CCAA
02. Second Report of Ernst & Young Inc. in its Capacity as the Monitor of Kaisen Energy Corp
Court officer report · 28 January 2022
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 filing8 verified
- cash on handnote: Figure is in $000's per Exhibit 1.0 table header; also noted as $10,000 more cash-on-hand than forecast in CFS#1. · as at: 2022-01-21 · amount: 31000 · currency: CAD · qualifier: actual ending cash for the Reporting Period, $10,000 more than initially forecast
- disbursementsnote: Total operating disbursements for the Reporting Period, in $000's per Exhibit 1.0. · since: Filing Date (December 8, 2021) to January 22, 2022 · amount: 1082000 · currency: CAD
- operational summaryKaisen, a heavy oil producer in Alberta and Saskatchewan, continues normal operations with no material adverse changes identified by the Monitor, and is proceeding toward implementation of its CCAA Plan following unanimous creditor approval.
- professional feesnote: Figure is in $000's per Exhibit 1.0; higher than the $200,000 forecast in CFS#1 due to complexity of proceedings. · party: aggregate professional fees incurred in the CCAA proceedings (not broken down by professional) · amount: 427000 · period: December 8, 2021 to January 22, 2022 (Reporting Period) · currency: CAD
- receipts cumulativenote: Total operating receipts for the Reporting Period, in $000's per Exhibit 1.0. · since: Filing Date (December 8, 2021) to January 22, 2022 · amount: 852000 · currency: CAD
- recovery outcomeentries: basis: plan · quote: | $0 to $2,000 | 59 | 100% | · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $0 to $2,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated; basis: plan · quote: | $2,001 to $10,000 | 125 | 57% | · pct of: unstated · outcome: distribution · pct low: 57 · pct high: 57 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $2,001 to $10,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated; basis: plan · quote: | $10,001 to $25,000 | 39 | 31% | · pct of: unstated · outcome: distribution · pct low: 31 · pct high: 31 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $10,001 to $25,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated; basis: plan · quote: | $10,001 to $50,000 | 5 | 71% | · pct of: unstated · outcome: distribution · pct low: 71 · pct high: 71 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $10,001 to $50,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated; basis: plan · quote: | $50,001 to $100,000 | 5 | 54% | · pct of: unstated · outcome: distribution · pct low: 54 · pct high: 54 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $50,001 to $100,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated; basis: plan · quote: | $100,001 to $500,000 | 1 | 95% | · pct of: unstated · outcome: distribution · pct low: 95 · pct high: 95 · class key: unsecured · stated by: monitor · class label: Affected Unsecured Claims $100,001 to $500,000 · interim final: unstated · conditional on: contingent on the resolution of the Lien Disputes, and is contingent on the CRA finalizing its claim against Kaisen · claims qualifier: unstated · stated on: 2022-01-28 · table missing:
- report date28 January 2022
- report noSecond Report