Ontario · NOI
Second Report of the Proposal Trustee
Court officer report · 5 October 2023
What we verified from this filing2 verified
- fee scheduleengagements: form: invoice_listing · rows: · money: approximate: false · period: end: 2023-09-30 · kind: invoice · quote: Datatax Business Services Limited Professional Fees Summary For the period from August 1 to September 30, 2023 · start: 2023-08-01 · approval: state: unstated · averages: · currency: · invoices: tax: 8726.1 · date: 2023-09-07 · fees: 58401.37 · quote: 1530752 31-Aug-23 7-Sep-23 $ 58,401.37 $ 8,722.44 $ 8,726.10 $ 75,849.91 · total: 75849.91 · period end: 2023-08-31 · disbursements: 8722.44 · firm text: KPMG Inc. · firm quote: SECOND REPORT OF KPMG INC., IN ITS CAPACITY AS PROPOSAL TRUSTEE · context quote: KPMG Inc. (' KPMG ') was appointed as proposal trustee (in such capacity, the ' Proposal Trustee ') in the NOI proceedings of Datatax.
- recovery outcomeentries: basis: estimated · quote: After payment of amounts owing in connection with the Administration Charge, and the BMO Debt, the Proposal Trustee notes that Fiera will suffer a shortfall on its secured advances to Datatax after taking into accrued interest and costs to date of $0.9 million, in addition to the $31.9 million owing as at the Filing Date. · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: Fiera · creditor name: Fiera · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Datatax Business Services Limited Proposed Distributions Estimated as at October 16, 2023 Estimated Cash on Hand $ 34,438,607 Distributions Outstanding Accounts 231,973 Tyr Estimated Remaining Fees 88,000 BMO Debt 2,000,000 Fiera Debt 32,005,634 Total Distributions $ 34,325,607 Remaining Cash Balance $ 113,000 | · pct of: unstated · outcome: distribution · class key: secured · stated by: proposal_trustee · amount low: 2000000 · amount high: 2000000 · class label: BMO Debt · creditor name: BMO · interim final: unstated · claims qualifier: unstated · stated on: 2023-10-05 · table missing: