Ontario · CCAA
Twenty-Seventh Report of the Monitor Part 1
Court officer report · 7 February 2025
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
- cash on handnote: Mareva Funds (Gervais Funds, Investment Income and Chieftain Funds plus accrued interest, less amounts disbursed to John Aquino for living and legal expenses) held in the trust account of the Monitor's counsel, not in the estate's own account; stated as 'currently', no as-at date given. · amount: 3700000 · currency: CAD · qualifier: approximately
- operational summaryThe report concerns no ongoing operations; it supports the Monitor's motion to distribute the roughly $3.7 million of frozen Mareva Funds to execution creditors (the Monitor, the Forma-con Trustee and Bank of Nova Scotia) in partial satisfaction of the transfer-at-undervalue judgments and cost awards against John Aquino, and notes the Monitor is considering whether any insolvency proceedings may be appropriate.
- report date7 February 2025
- report noTwenty-Seventh Report