Ontario · CCAA
Eighth Report of the Monitor
Court officer report · 15 November 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 filing6 verified
- operational summaryResidual Co. is a residual shell in an ongoing wind-down of the estate, with the Monitor reconciling and adjudicating creditor claims and preparing for distributions. It has 166 accepted claims (~$36.0M) and 4 disputed claims (~$8.4M), all against Fire & Flower Inc., and is seeking to lift the stay so shareholder claimants can sue the former D&Os. The Monitor says the Applicant has sufficient funding through the proposed stay extension to March 31, 2025.
- professional feesnote: Total including disbursements of $4,185.95 and HST of $84,519.50; fees alone are $645,964.00. Monitor's counsel (TGF) for the same period: fees $493,707.00, disbursements $17,273.00, HST $66,107.41, total $577,087.41. · party: FTI Consulting Canada Inc. (Monitor) · amount: 734669.45 · period: October 1, 2023 to September 30, 2024 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: there will be no recovery for such Claims (in the event they are successful in proving a claim against the Former D&Os) from the funds that the Monitor holds because these Shareholder Claimants did not dispute the disallowance of their corresponding claim against the F&F Entities. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: Shareholder Claimants (D&O Claims) · interim final: unstated · conditional on: in the event they are successful in proving a claim against the Former D&Os · claims qualifier: unstated · table missing:
- report date15 November 2024
- report noEighth Report
- stalking horse2707031 Ontario Inc.