British Columbia · CCAA
Third Report of the Monitor dated April 5, 2024
Court officer report · 5 April 2024
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What we verified from this filing1 verified
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: HST/GST · quote: $27,478.35 in HST/GST · amount: 27478.35 · fees: quote: $536,772.75 in fees · amount: 536772.75 · total: quote: the Monitor's fees and disbursements, inclusive of taxes, amounted to a total of $577,049.13 · amount: 577049.13 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: $12,797.85 of incurred and invoiced for disbursements · amount: 12797.85 · period: end: 2024-03-25 · kind: cumulative · label: the Monitor's Fee Period · quote: As detailed in the Accounts, from December 1, 2023 to March 25, 2024, the Monitor's fees and disbursements, inclusive of taxes, amounted to a total of $577,049.13 · start: 2023-12-01 · approval: quote: the Monitor seeks this Court's approval of the Monitor's Fees during the Monitor's Fee Period plus a Remaining Fee Estimate of $100,000 · state: sought · averages: · currency: · invoices: tax: 3746.81 · date: 2024-02-08 · fees: 74936.25 · quote: February 8, 2024 | 3477 | 74,936.25 | - | 3,746.81 | 78,683.06 · total: 78683.06; tax: 11845.89 · date: 2024-02-08 · fees: 231726.25 · quote: February 8, 2024 | 3478 | 231,726.25 | 5,191.64 | 11,845.89 | 248,763.78 · total: 248763.78 · disbursements: 5191.64; tax: 6261.97 · date: 2024-03-20 · fees: 118194 · quote: March 20, 2024 | 3571 | 118,194.00 | 7,045.36 | 6,261.97 | 131,501.33 · total: 131501.33 · disbursements: 7045.36; tax: 5623.86 · date: 2024-03-25 · fees: 111916.25 · quote: March 25, 2024 | 3573 | 111,916.25 | 560.85 | 5,623.86 | 118,100.96 · total: 118100.96 · disbursements: 560.85 · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. (' KSV ') was appointed as monitor in these CCAA proceedings (in such capacity, the ' Monitor ') · context quote: KSV Restructuring Inc. (' KSV ') was appointed as monitor in these CCAA proceedings (in such capacity, the ' Monitor ').; form: time_summary · rows: Noah Goldstein; Jason Knight; Eli Brenner; Maha Shah; Prajwol Bhandary; fees: 4564 · hours: 21.1 · quote: Other Staff and Administrative | 21.10 | 175-425 | 4,564.00 · rate max: 425 · rate min: 175 · row kind: bucket · rate kind: range · name as stated: Other Staff and Administrative · money: fees: quote: 868.35 | | 536,772.75 · amount: 536772.75 · approximate: false · period: end: 2024-03-25 · kind: cumulative · quote: For the Period December 1, 2023 to March 25, 2024 · start: 2023-12-01 · approval: state: unstated · averages: rate: 618.15 · quote: Average hourly rate | | | 618.15 · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. · hours total: quote: 868.35 | | 536,772.75 · value: 868.35 · context quote: KSV Restructuring Inc. (' KSV ') was appointed as monitor in these CCAA proceedings (in such capacity, the ' Monitor ').; form: invoice_listing · rows: Kelsey Armstrong; Bavia Bisetty; Mary Buttery; Mary Buttery; Martha Martindale; Martha Martindale; Dave Rosenblat; Dave Rosenblat; Marc Wasserman; Marc Wasserman; Chloe Duggal; Chloe Duggal; Blair McRadu; Ben Muller; Michael Pede; Tiffany Sun; Tiffany Sun; Leonie Eilers; Julie Harvey · money: tax: label: GST/PST · quote: Total | Total | 454,971.00 | 72,873.75 | 68,619.81 | 596,464.90 · amount: 68619.81 · fees: quote: Total | Total | 454,971.00 | 72,873.75 | 68,619.81 | 596,464.90 · amount: 454971 · total: quote: Total | Total | 454,971.00 | 72,873.75 | 68,619.81 | 596,464.90 · amount: 596464.9 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total | Total | 454,971.00 | 72,873.75 | 68,619.81 | 596,464.90 · amount: 72873.75 · period: end: 2024-03-22 · kind: invoice · label: the Osler Accounts · quote: I have reviewed the accounts of Osler, Hoskin & Harcourt LLP (' Osler ') that were issued between January 31, 2024 and March 22, 2024 in relation to these proceedings · start: 2024-01-31 · approval: state: unstated · averages: · currency: code: CAD · quote: Invoice Issued in Canadian Dollars · invoices: tax: 6271.38 · date: 2024-01-31 · fees: 46129 · quote: January 31, 2024 | 12852063 | 46,129.00 | 2,112.40 | 6,271.38 | 54,512.78 · total: 54512.78 · disbursements: 2112.4; tax: 28451.47 · date: 2024-02-09 · fees: 199217 · quote: February 9, 2024 | 12863558 | 199,217.00 | 19,640.46 | 28,451.47 | 247,308.93 · total: 247308.93 · disbursements: 19640.46; tax: 21388.75 · date: 2024-03-22 · fees: 153639 · quote: March 22, 2024 | 12872062 | 153,639.00 | 10,889.83 | 21,388.75 | 185,917.92 · total: 185917.92 · disbursements: 10889.83; tax: 12508.21 · date: 2024-04-05 · fees: 55986 · quote: April 5, 2024 | 12881788 | 55,986.00 | 40,231.06 | 12,508.21 | 108,725.27 · total: 108725.27 · disbursements: 40231.06 · firm text: Osler, Hoskin & Harcourt LLP · firm quote: the accounts of Osler, Hoskin & Harcourt LLP (' Osler ') · context quote: I have reviewed the accounts of Osler, Hoskin & Harcourt LLP (' Osler ') that were issued between January 31, 2024 and March 22, 2024 in relation to these proceedings (the ' Osler Accounts '). · comparability quote: The Monitor is of the view that the hourly rates charged by Osler are consistent with the rates charged by corporate law firms practicing in the areas of corporate insolvency and restructuring in the British Columbia market with the capacity to handle a file of size and complexity comparable to this matter, and that the overall fees charged by Osler are reasonable and appropriate in the circumstances.