Newfoundland and Labrador · CCAA
Monitor's Sixth Report dated September 3, 2025
Court officer report · 3 September 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 filing7 verified
- cash on handnote: Closing cash of $29,915 at Week 28 versus budgeted $71,768; the report also states the Company has not been able to operate and fund the cost of the CCAA proceeding to the date of the report. · as at: 2025-08-22 · amount: 29915 · currency: CAD · qualifier: closing cash per the cash flow variance report
- disbursementsnote: Actual total cash disbursements for Weeks 1-28, versus budgeted $825,341 (variance of $(39,867)). Excludes unpaid professional fees. · since: February 11, 2025 (Weeks 1-28 to August 22, 2025) · amount: 785474 · currency: CAD
- operational summaryThe Companies continue to operate under the court-approved Revised Cash Flow Forecast, pursuing the sale of the DTL licence to the Successful Bidder (subject to DFO transfer approval), a refinancing of the remaining assets (RS Journey II and groundfish licences), and collection of the Lennox Fisheries receivable.
- professional feesnote: $129,640.74 is the report's stated figure for unpaid professional fees; the report's detail also lists Company legal counsel's $32,915 outstanding balance, and the report separately cites $162,555.74 as unpaid professional fees. All exclude August 2025 work in progress for the Monitor and its counsel. Tax treatment not stated. · party: Monitor ($108,147.52 to July 31, 2025), Monitor's legal counsel ($21,493.22), and Company legal counsel ($32,915 outstanding) · amount: 129640.74 · period: unpaid as at the report date; Monitor fees to July 31, 2025 · currency: CAD
- receipts cumulativenote: Actual total cash receipts for Weeks 1-28, versus budgeted $649,205 (variance of $(81,720)). · since: February 11, 2025 (Weeks 1-28 to August 22, 2025) · amount: 567485 · currency: CAD
- report date3 September 2025
- report noSixth Report