Nova Scotia · CCAA
The Fifth Report of the Monitor dated August 25, 2026;
Court officer report · 25 August 2026
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 filing9 verified
- fee scheduleengagements: form: prose · rows: · money: total: quote: $1,613,247.50 ÷ 1,446.60 hours · amount: 1613247.5 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 1115.2 · quote: average hourly rate of approximately $1,115.20 per hour · currency: · invoices: · firm text: FTI Consulting Canada Inc. · firm quote: FIFTH REPORT OF FTI CONSULTING CANADA INC. IN ITS CAPACITY AS MONITOR OF CFFI VENTURES INC. · hours total: quote: The total time in the invoices is 1,446.60 hours · value: 1446.6 · context quote: appointed FTI Consulting Canada Inc. ('FTI') as the Court-appointed monitor of CFFI (in this capacity, the 'Monitor') · context unverified: true; form: prose · rows: · money: total: quote: $789,092.75 ÷ 718.50 · amount: 789092.75 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 1098.25 · quote: average hourly rate of approximately $1,098.25 per hour · currency: · invoices: · firm text: Stikeman Elliott · firm quote: Stikeman Elliott incurred legal fees in the amount of $789,092.75 · hours total: quote: The total time in the invoices is 718.50 hours · value: 718.5 · context unverified: true
- operational summaryThe court-approved sale process (SISP) failed to produce a qualifying bid, so the Monitor now supports a debt-assumption sale of substantially all CFFI's assets to an HPS-affiliated purchaser; after closing, CFFI is expected to have no employees or directors and will be wound down under enhanced Monitor powers.
- process resultsbids: 0 · note: No potential bidder submitted an NOI by the prescribed deadline · solicited: 159 · qualified bids: 0
- purchaserNew Tide Capital LP
- recovery outcomeentries: basis: liquidation_alternative · quote: The HPS Secured Creditors would likely experience a shortfall in a bankruptcy scenario. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: HPS Secured Creditors · creditor name: HPS Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Transaction does not result in any recovery for unsecured creditors, but unsecured creditors would not see a recovery in a bankruptcy either. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · claims amount: 368000000 · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Transaction does not result in any recovery for unsecured creditors, but unsecured creditors would not see a recovery in a bankruptcy either. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-25 · table missing:
- report date25 August 2026
- report noFifth Report
- sale advisorFTI Capital Advisors - Canada ULC
- sale outcometext: Transaction approved by Monitor's motion; not yet closed · scope: whole_business · status: pending_approval