Quebec · NOI

Report to the Court on the Authorization to Sell Assets Outside the Ordinary Course of Business

Court officer report · 26 June 2020

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 filing3 verified

process resultslois: 3 · note: Three interested investors provided a binding letter of intention on June 15, 2020 · as of: 2020-06-15
purchaserprice: note: Estimated value; mostly the buyer taking on about $14.4M of CIBC debt, plus $559K of cure costs. · basis: mixed · amount: 15000000 · sealed: false · currency: CAD · scope: Purchased Assets · status: proposed · name note: wholly owned subsidiary of Lolë Brands LLC, unnamed · structure: assets · name source: recital · relationship: unstated
sale outcometext: The Trustee is of the opinion that the Proposed Transaction represents the best alternative for all of Coalision's creditors · scope: whole_business · status: pending_approval