Newfoundland and Labrador · CCAA
Twenty-Second Report of the Monitor (Part 1 of 3)
Court officer report · 24 October 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: Operating account plus the property trust account maintained at McInnes Cooper; Appendix A shows $4,866,003 cumulative closing cash position. · as at: 2025-09-30 · amount: 4900000 · currency: CAD
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: kind: interim · label: Fee Period · quote: A summary of the Proposal Trustee and Monitor's fees including details with respect to total hours charged during the Fee Period is summarized below: · approval: state: unstated · averages: rate: 397.1 · quote: This amount includes billings for 4,857.0 professional hours at an average hourly rate of approximately $397.10. · currency: · invoices: · firm text: Ernst & Young Inc. · firm quote: Ernst & Young Inc. consented to act as the designated Trustee · hours total: quote: This amount includes billings for 4,857.0 professional hours at an average hourly rate of approximately $397.10. · value: 4857 · context quote: A summary of the Proposal Trustee and Monitor's fees including details with respect to total hours charged during the Fee Period is summarized below:; form: report_table · rows: · money: fees: quote: in the amount of $770,650.50 (plus disbursements and applicable taxes) · amount: 770650.5 · approximate: false · period: kind: interim · label: Fee Period · quote: A summary of Stewart McKelvey's fees including details with respect to total hours charged during the Fee Period is summarized below: · approval: quote: The Monitor seeks this Honourable Court's approval of Stewart McKelvey's accounts for the Fee Period in respect of the NOI and CCAA administrations in the amount of $770,650.50 (plus disbursements and applicable taxes). · state: sought · averages: rate: 483.38 · quote: This amount includes billings for 1,627.1 professional hours at an average hourly rate of approximately $483.38. · currency: · invoices: · firm text: Stewart McKelvey · firm quote: Stewart McKelvey's fees · hours total: quote: This amount includes billings for 1,627.1 professional hours at an average hourly rate of approximately $483.38. · value: 1627.1 · context quote: A summary of Stewart McKelvey's fees including details with respect to total hours charged during the Fee Period is summarized below:
- operational summaryThe Corporation has substantively liquidated all of its assets and has limited ongoing operations; remaining work is finalizing select real property sales, a few residual estate matters, and a final distribution to Accepted Claimants. CCAA proceedings continue pending confidential discussions on further recoveries for Abuse Claimants.
- professional feesnote: Plus applicable taxes; 4,857.0 hours at an average rate of ~$397.10. Counsel Stewart McKelvey seeks $770,650.50 (plus disbursements and taxes) for 1,627.1 hours at ~$483.38 average. · party: Ernst & Young Inc. (Proposal Trustee and Monitor) · amount: 1963587.4 · period: December 1, 2021 through August 28, 2025 · currency: CAD
- recovery outcomeentries: basis: actual · quote: The second interim distribution approval, as set out in the Monitors Twenty-First Report - Supplemental, has resulted in all Accepted Claimants receiving 30.23189% of their respective proven claims, other than six (6) deceased estate claims where satisfactory Testamentary Documentation has not yet been provided. · pct of: proven_claims · outcome: distribution · class key: unsecured · stated by: monitor · cumulative: false · class label: Accepted Abuse and General Claimants · interim final: interim · conditional on: other than six (6) deceased estate claims where satisfactory Testamentary Documentation has not yet been provided · claims qualifier: unstated · table missing:
- report date24 October 2025
- report noTwenty-Second Report of the Monitor