British Columbia · CCAA
Eighth Report of the Monitor
Court officer report · 13 December 2024
What we verified from this filing8 verified
- closing confirmedscope: the Petitioners' assets · outcome: completed · date basis: unstated; scope: the SPA · outcome: not_completed · purchaser: MAR ONE Aviation L.L.C. · date basis: unstated
- fee scheduleengagements: form: report_table · rows: · money: fees: quote: billed fees totaling $205,940.00 · amount: 205940 · approximate: false · disbursements: quote: expenses of $2,661.85, exclusive of GST · amount: 2661.85 · period: end: 2024-06-30 · kind: cumulative · quote: For the period from March 1, 2023 to June 30, 2024, the Monitor incurred 361.8 hours and billed fees totaling $205,940.00 and expenses of $2,661.85, exclusive of GST. · start: 2023-03-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: FTI Consulting Canada Inc. · firm quote: FTI Consulting Canada Inc., in its capacity as Monitor of CanWest Aerospace Inc. and Can West Global Airparts Inc. · hours total: quote: the Monitor incurred 361.8 hours · value: 361.8 · context quote: For the period from March 1, 2023 to June 30, 2024, the Monitor incurred 361.8 hours and billed fees totaling $205,940.00 and expenses of $2,661.85, exclusive of GST.; form: report_table · rows: · money: fees: quote: billed fees totaling $70,888.50 · amount: 70888.5 · approximate: false · disbursements: quote: expenses of $42.00, exclusive of GST and PST · amount: 42 · period: end: 2024-06-30 · kind: cumulative · quote: For the period from March 1, 2023 to June 30, 2024, the Monitor's legal counsel billed fees totaling $70,888.50 and expenses of $42.00, exclusive of GST and PST. · start: 2023-03-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: Monitor's legal counsel · context quote: For the period from March 1, 2023 to June 30, 2024, the Monitor's legal counsel billed fees totaling $70,888.50 and expenses of $42.00, exclusive of GST and PST. · firm unverified: true; form: time_summary · rows: Craig Munro; Michael Clark; Hailey Liu; Huw Parks; Caitlin Moreland; fees: 48792.5 · hours: 86 · quote: Total Hours and Fees | | | 86.0 | $48,792.50 · row kind: subtotal · rate kind: standard · name as stated: Total Hours and Fees · money: tax: label: HST · quote: HST Registration No. 835718024RT0001 ...... $2,501.34 · amount: 2501.34 · fees: quote: Total Hours and Fees | | | 86.0 | $48,792.50 · amount: 48792.5 · total: quote: Total Amount Due this Period.............................................................................. | $52,528.05 · amount: 52528.05 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Expenses....... $1,234.21 · amount: 1234.21 · period: end: 2023-03-31 · kind: invoice · label: Current Invoice Period · quote: Current Invoice Period: Charges Posted through March 31, 2023 · approval: state: unstated · averages: · currency: · invoices: · firm text: FTI Consulting Canada Inc. · firm quote: FTI Consulting Canada Inc., in its capacity as Monitor of CanWest Aerospace Inc. and Can West Global Airparts Inc. · hours total: quote: Total Hours and Fees | | | 86.0 | $48,792.50 · value: 86 · context quote: Current Invoice Period: Charges Posted through March 31, 2023; form: time_summary · rows: Craig Munro; Huw Parks; Kathleen Foster · money: tax: label: GST (5%) · quote: GST (5%) | | | | $1,575.18 · amount: 1575.18 · fees: quote: Total Professional Services | Total Professional Services | Total Professional Services | 56.80 | $31,465.00 · amount: 31465 · total: quote: Total Due | | | | $33,077.85 · amount: 33077.85 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Expenses | | | | $37.67 · amount: 37.67 · period: end: 2023-04-30 · kind: invoice · quote: April 30, 2023 · approval: state: unstated · averages: · currency: code: CAD · quote: Account Currency: CAD · invoices: · firm text: FTI Consulting Canada Inc. · firm quote: FTI Consulting Canada Inc., in its capacity as Monitor of CanWest Aerospace Inc. and Can West Global Airparts Inc. · hours total: quote: Total Professional Services | Total Professional Services | Total Professional Services | 56.80 | $31,465.00 · value: 56.8 · context quote: April 30, 2023 102900000181 494539.0001 Due Upon Receipt 98-1479066 CAD
- operational summaryThe Petitioners' business was sold pursuant to a court-approved SPA, but the purchaser failed to close; RBC then obtained appointment of a receiver, which has since closed a sale of the Petitioners' assets and is seeking a distribution order and its discharge.
- professional feesnote: Exclusive of GST; expenses of $2,661.85 also incurred. Monitor's legal counsel (DLA) billed fees totaling $70,888.50 and expenses of $42.00, exclusive of GST and PST, for the same period. Estimated unbilled work-in-progress plus fees to discharge of approximately $16,000, exclusive of GST and PST. · party: Monitor (FTI Consulting Canada Inc.) · amount: 205940 · period: March 1, 2023 to June 30, 2024 · currency: CAD
- purchaserMAR ONE Aviation L.L.C.; price: sealed: false · scope: the Petitioners' assets · status: closed · name note: purchaser of the Petitioners' assets in the receiver's sale, unnamed · structure: assets · name source: recital · relationship: unstated
- report date13 December 2024
- report noEighth Report
- sale outcometext: Original SPA purchaser failed to close; receiver appointed and has now closed a sale of the Petitioners' assets · scope: whole_business · status: closed