Alberta · CCAA
First Report of the Monitor
Court officer report · 25 April 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 filing5 verified
- cash on handnote: Opening cash for the Sunterra Group as a whole per the cash flow forecast (a forecast-period opening balance, not an audited figure). Separately, the Trochu bank account held $3.2 million of insurance proceeds at filing, with a further $1.8 million awaited. · as at: 2025-04-12 · amount: 2862492 · currency: CAD · qualifier: expected
- operational summaryThe Sunterra Group continues to operate its pig farming operations and eight retail grocery markets (including three Starbucks locations). The Trochu meat processing facility is not operating following a June 2024 fire. The group aims to repay National Bank of Canada while pursuing a refinancing, orderly sale or restructuring.
- professional feesnote: This is a forecast, not fees incurred to date. Tax treatment is not stated. The Administration Charge securing these fees is capped at $1,000,000. · party: Applicants' counsel, Applicants' Financial Advisor, Proposed Monitor and its counsel, Proposal Trustee and its counsel (combined forecast) · amount: 980000 · period: 16-week forecast period, April 12 to August 1, 2025 · currency: CAD
- report date25 April 2025
- report noFirst Report