Manitoba · CCAA
Second Report of the Monitor dated June 20, 2023
Court officer report · 20 June 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 filing7 verified
- cash on handnote: Ending cash for the First Cash Flow Period (April 18 to June 20, 2023); described as the current balance of the DIP Account of approximately $91,000. · as at: 2023-06-20 · amount: 91097 · currency: CAD · qualifier: approximately
- disbursementsnote: Total actual disbursements for the First Cash Flow Period, against a forecast of $579,344. · since: April 18, 2023 (Filing Date) to June 20, 2023 · amount: 622254 · currency: CAD
- operational summaryConstruction of the 14-storey rental project has been paused since early April 2023. The Applicants have no employees and are limited to site preservation and security and to running a two-phase sale and investment solicitation process, which is now moving to Phase Two with qualified bidders.
- professional feesnote: Actual restructuring costs per the cash flow variance table, against a forecast of $462,500; the report gives no separate figure for the Monitor's own fees or any tax treatment. The Second Cash Flow Forecast projects a further $305,000 of restructuring costs for June 26 to September 24, 2023. · party: Restructuring costs (professional fees to Applicants' counsel, the Monitor and the Monitor's counsel) · amount: 482869 · period: April 18, 2023 to June 20, 2023 · currency: CAD
- receipts cumulativenote: Comprises three DIP advances totalling $550,000 and approximately $137,000 of tax refunds received by Donmar. · since: April 18, 2023 (Filing Date) to June 20, 2023 · amount: 687352 · currency: CAD
- report date20 June 2023
- report noSecond Report