British Columbia · CCAA
Eleventh Report of the Monitor
Court officer report · 14 March 2024
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 filing7 verified
- cash on handas at: 2024-03-10 · amount: 1000 · currency: CAD · qualifier: approximately
- disbursementsnote: Table shows total disbursements of 1,184 (CAD thousands) versus forecast of 1,483; the Company has drawn $1,184,291 of DIP funding against the approved $1,680,000. · since: commencement of the CCAA proceedings (ninety-three weeks to March 10, 2024) · amount: 1184000 · currency: CAD
- operational summaryThe Company has no operating revenue and is conducting a sales and investment solicitation process, with an HD Mining purchaser's framework agreement (US$220M for CDLV's 40% interest) and a Wapiti/Murray River potential purchaser under discussion; claims resolution work is paused pending a definitive sale agreement. The Company seeks a stay extension to April 19, 2024.
- professional feesnote: Cash flow note [7]: aggregate outstanding $179,661, of which $120,583 is the Company's legal counsel, $41,958 the Monitor and $17,120 the Monitor's legal counsel. Report body says approximately $180,000 outstanding. Actual professional fees disbursed to March 10, 2024 were $900K (thousands table). · party: Company's legal counsel, the Monitor and Monitor's legal counsel (outstanding) · amount: 179661 · currency: CAD
- receipts cumulativenote: Variance table shows total receipts of 1 (CAD thousands), all categorized as 'Other'. · since: commencement of the CCAA proceedings (ninety-three weeks to March 10, 2024) · amount: 1000 · currency: CAD
- report date14 March 2024
- report noEleventh Report