Ontario · CCAA
Second Report of the Monitor dated July 21, 2015
Court officer report · 21 July 2015
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: Unaudited closing cash position per the table of actual results for April 18, 2015 to July 10, 2015 (stated in $000s as 4,661); opening cash position was 5,348. · as at: 2015-07-10 · amount: 4661000 · currency: CAD
- disbursementsnote: Actual total disbursements of 772 ($000s) versus 1,767 projected; the 'Other (Site Operations)' line is a net (350) credit. · since: April 18, 2015 (through July 10, 2015) · amount: 772000 · currency: CAD
- operational summaryThe Company's business has been largely inactive since the end of 2013 and no production was started in 2014 or 2015. It is maintaining the mine sites, moving to a lower-cost head office, marketing surplus diesel generators and considering a strategic transaction, while seeking a stay extension to December 18, 2015.
- professional feesnote: Actual 'Legal and Professional Fees' disbursement of 211 ($000s) versus projected 294; audit fees of 15 are a separate line. Tax treatment not stated. · party: Legal and Professional Fees (Company's cash-flow line item; the report does not separately state the Monitor's own fees) · amount: 211000 · period: April 18, 2015 to July 10, 2015 · currency: CAD
- receipts cumulativenote: Actual total receipts of 85 ($000s), all GST/HST rebates/remittances, versus 77 projected. · since: April 18, 2015 (through July 10, 2015) · amount: 85000 · currency: CAD
- report date22 July 2015
- report noSecond Report