Quebec · CCAA
Seventh Report of the Monitor
Court officer report · 7 May 2026
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 filing14 verified
- report date7 May 2026
- report noSeventh Report
- operational summaryThe Monitor continued to monitor the daily receipts and disbursements of the Debtors, including supervising the issuance of payments by implementing a prior review and approval by the Monitor of payment requests formulated by the Debtors.
- cash on hand1000000.00
- professional fees762.00
- receipts cumulative191.00
- cash on handnote: Closing cash balance on May 1st, 2026 stated as $1M; Appendix A shows closing cash balance of 1,014 (CAD '000). The Sixth Revised Cash Flow Forecast projects approximately $2.7M by September 11th, 2026 (forecast, not a position). · as at: 2026-05-01 · amount: 1000000 · currency: CAD
- closing confirmedscope: the Transaction approved by the Sale Approval Judgment (sale of the Debtors' business) · outcome: completed · effective: 2026-02-13 · date basis: stated · effective time: 11:59 p.m · approval order date: 2026-02-04
- operational summaryFollowing the February 2026 closing of the sale transaction, the Debtors are winding down with the Monitor receiving the Debtors' cash in trust, supervising disbursements, and facilitating a transition services agreement with the Purchaser, extended for a limited number of services to July 1st, 2026. The Debtors seek a stay extension to September 11th, 2026 to collect remaining receivables and prepare a final distribution and CCAA termination.
- professional feesnote: Actual professional fees paid were 762 (CAD '000) vs budget of 1,210; the report attributes the favourable variance in part to lower than projected corporate and professional fees paid. Costs of the TSA, including professional fees, are borne exclusively by the Purchaser. Tax treatment not stated. · party: Professional fees paid by the Debtors (Appendix A actuals; not broken out by party) · amount: 762000 · period: 5-week period from March 28th, 2026 to May 1st, 2026 · currency: CAD
- purchaserprice: note: Price not stated in the text present; proceeds of sale were paid to the Monitor to be held in trust · sealed: false · scope: the business of the Debtors, sold as a going concern under the SISP and the Purchase Agreement (the 'Transaction') · status: closed · name note: Referred to only as 'the Purchaser'; not named in the text present · structure: assets · name source: recital · relationship: unstated
- report date7 May 2026
- report noSeventh Report of the Monitor
- sale outcometext: The Transaction approved by the Court's Sale Approval Judgment closed on February 13, 2026; the Monitor holds the sale proceeds and has distributed $33,307,000 to the Lending Syndicate. · scope: whole_business · status: closed