Ontario · Bankruptcy

Monitor's Second Report

Court officer report · 22 May 2025

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 filing1 verified

secured creditorsnote: Stated as 'approximate amount of $55 million' in Justice Osborne's endorsement; indebtedness guaranteed by personal guarantee of Michael Wekerle, principal of the Debtors (related-party guarantor); formal Demands and s.244 BIA notices served January 17, 2025; no exact dated payout balance disclosed in these pages · page: 10 · as of: February 16, 2025 (date of Affidavit of Don Rogers) · amount: 55000000 · debtor: El Mocambo Entertainment Inc., El Mocambo Productions Inc., and 2446928 Ontario Inc. (formerly Elmorealty Inc.) - joint and several · creditor: Waygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund LP · currency: CAD · security: First ranking security interests pursuant to the Credit Agreement