Ontario · CCAA
Supplemental Fifty-Fifth Report of the Monitor, dated April 19, 2023
Court officer report · 19 April 2023
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 filing8 verified
- disbursementsnote: Actual Land Vehicle disbursements per Appendix I; the $13,839,040 favourable variance to forecast is shown in the table. The report states significant litigation costs were incurred relating to the Reconveyance Parcel dispute. · since: November 1, 2021 to December 31, 2022 (Land Vehicle actual disbursements; budget was $20,289,050) · amount: 6450010 · currency: CAD
- operational summaryThe Monitor, as LRO, administers the Land Vehicle, which holds former USSC lands; the Residual Farm Land Transaction with DGAP has not closed due to the Reconveyance Parcel litigation with Stelco, and the Monitor reports limited funding available for ongoing Land Vehicle costs.
- purchaserDGAP Investment Ltd.; Stelco Nanticoke Lands Inc.
- receipts cumulativenote: Actual Land Vehicle receipts per the cash flow variance table in Appendix I; the $14,264,252 negative variance to forecast reflects the Residual Farm Land Transaction not closing as forecast. · since: November 1, 2021 to December 31, 2022 (Land Vehicle actual receipts; budget was $21,200,000) · amount: 6935748 · currency: CAD
- report date19 April 2023
- report noSupplemental Fifty-Fifth Report
- sale advisorCushman and Wakefield ULC
- sale outcometext: the Residual Farm Land Transaction with DGAP has not closed and negotiations over revised transaction documents continue without agreement · scope: parcel · status: not_completed