Quebec · CCAA
First Report of the Designated Monitor on the State of the Debtors’ Financial Affairs
Court officer report · 15 April 2004
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: Available cash upon issuance of the Initial Order; the cash flow projection expects approximately $97,105 as of June 2, 2004 (a forecast). The balance sheets show cash of $87,044 (EVH INC) and $70,157 (EVH USA) as at March 20, 2004. · as at: 2004-03-19 · amount: 173000 · currency: CAD · qualifier: approximately
- financial positionnote: Total liabilities $101,027,914 includes current liabilities $94,598,624 (accounts payable $9,407,254; due to Parmalat/2975483 Canada Inc. $85,191,370), due to Investissement Quebec $3,000,000 and deferred tax credit $3,429,290. Shareholders' equity is $(32,152,101). The report states the accounts payable balances do not include provisions for salaries, vacation pay, fringe benefits and other employee-related liabilities. · as at: 2004-03-20 · basis: Unaudited balance sheet of EVH INC as at March 20, 2004, summarized in the Monitor's report; the Monitor has not audited or investigated the books and records. · scope: Eaux Vives Harricana Inc. (EVH INC) only, non-consolidated; EVH U.S.A. Inc. has a separate balance sheet (assets $99,539; liabilities $4,426,222). · currency: CAD · total assets: 68875813 · total liabilities: 101027914
- operational summaryThe plant has been shut down since February 13, 2004 with no production; a reduced staff of twelve is liquidating remaining inventory, collecting receivables and maintaining the plant while Scotia Capital Inc. runs a sale process for the business.
- report date15 April 2004
- report noFirst Report