Quebec · CCAA
Third Report to the Court as Monitor dated August 24, 2023 (French Original Version)
Court officer report · 24 August 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 filing5 verified
- cash on handnote: Ending cash balance per the actual-vs-budget table for the 4-week period ended August 13, 2023 (shown in $000: 411). Projected cash at September 3, 2023 is only about $25k. · as at: 2023-08-13 · amount: 411000 · currency: CAD
- operational summaryThe Debtors continue their ordinary-course operations (air and ground medical transport services in Quebec) under CCAA protection, with a liquidity crisis, and the Controller supports a going-concern sale to Dessercom that would continue operations without interruption.
- professional feesnote: Estimated unpaid restructuring fees at closing, after payments of $300,000 made by the Debtors in the 3 weeks ended September 3, 2023. Taxes on these fees (TPS/TVQ) are estimated at +$250,000 receivable. Amount stated as a total across professionals; no separate Controller-only figure. · party: Restructuration professionals (Controller, and counsel to the Controller, the Debtors and the Applicants Fiera and Laurentian Bank) · amount: 753000 · period: unpaid at the closing date · currency: CAD
- report date24 August 2023
- report noTroisième rapport