Ontario · CCAA
Sixth Report of the Monitor
Court officer report · 21 June 2021
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: Remaining funds held by Monitor per the summary of sale proceeds and distributions/disbursements to May 31, 2021 (CDN column; the U.S. $ column nets to zero). · as at: 2021-05-31 · amount: 1332941.7 · currency: CAD
- disbursementsnote: Disbursements for post-filing goods/services only, excluding distributions to creditors (C = $3,967,273.66 CAD, a separate line). A separate US$89.91 of disbursements also appears in the U.S. $ column. · since: closing of the Sale Transaction (March 2019), through May 31, 2021 · amount: 591687.29 · currency: CAD
- operational summary157 Ontario's business was sold to Bridgeline Digital under the Sale Transaction; the Monitor holds remaining sale funds pending resolution of CRA tax assessment claims, and is seeking a stay extension to December 31, 2021 to enable an appeal of the CRA Assessment and an eventual distribution to unsecured creditors.
- professional feesnote: Monitor fees of $238,859.44 are listed among post-filing disbursements; legal fees $212,341.24, accounting services $44,789.78, Claims Officer fees and expenses $15,784.50 are listed separately. HST paid is a separate line of $66,847.54. · party: Monitor (Ernst & Young Inc.) · amount: 238859.44 · period: post-filing, to May 31, 2021 · currency: CAD
- receipts cumulativenote: Total receipts received by Monitor, CDN column; the U.S. $ column shows a separate total of US$1,158,383.69 (US$ funds distributed to Ranger Direct Lending Fund). · since: closing of the Sale Transaction (March 2019), through May 31, 2021 · amount: 5891902.65 · currency: CAD
- report date21 June 2021
- report noSixth Report of the Monitor