British Columbia · CCAA
The purpose of this third report (the “Third Report”) is to provide information to the Supreme Court of British Columbia in respect of the following: a) condensed background information; b) the solicitation of interest by parties to acquire or assume the operations of HFRO; c) creditor notification of the Claims Process; d) a new DIP Facility with Pillar Capital Corp.; e) the Proposed Retention Charge (defined below) proposed by the Monitor; f) cash flow forecasts through to March 31, 2019; g) HFRO’s request for an extension of the Stay Period; and h) the Monitor’s Recommendations
Court officer report · 27 November 2018
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: Beginning cash for the Third Report Forecasts Period, described as at the beginning of the Forecast Period, after consolidation of all bank accounts. · amount: 387231 · currency: CAD · qualifier: approximately
- operational summaryHFRO is winding down the Compost Facility, ceasing acceptance of new organic material by December 14, 2018, laying off about half its workforce, and continuing to process remaining stockpiled material while the Monitor seeks a going-concern buyer or plans an orderly liquidation.
- professional feesnote: This is a forecast disbursement line item within the cash flow projections, not an incurred-to-date fee figure. · party: Monitor and its legal counsel, as well as HFRO's legal counsel · amount: 400000 · period: November 26, 2018 to March 31, 2019 (forecast) · currency: CAD
- report date27 November 2018
- report noThird Report