Ontario · CCAA
Monitor's 1st Report - DIP
Court officer report · 8 April 2009
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 filing3 verified
- secured creditorsnote: Stated as 'approximately $306 million of secured debt' forming part of the US Debtors' capital structure; figure given by Jefferies in context of DIP financing negotiations, not itemised or dated. · page: 4 · amount: 306000000 · debtor: US Debtors (Indalex Holding Corp., Indalex Holdings Finance, Inc., Indalex Inc., Caradon Lebanon, Inc., Dolton Aluminum Company, Inc.) · creditor: US Debtors' secured lenders (aggregate, unnamed) · currency: USD · security: Secured debt comprising the US Debtors' capital structure (unspecified security/lenders)
- secured creditorsnote: Described only as holding $30 million of secured debt subordinate to Senior Secured Lenders; no balance date given; possible affiliate relationship suggested by name but not stated explicitly in document. · page: 6 · amount: 30000000 · debtor: Indalex Group (US Debtors/Applicants, entity not specified) · creditor: Sun Indalex LLC · currency: USD · security: Secured debt ranking subordinate to the Senior Secured Lenders
- secured creditorsnote: Amount is the opening 'Balance b/f' of the Pre-Filing Facility Roll-Up shown in the April 7 cash flow forecast (Appendix A), representing the pre-filing Revolving Credit Facility balance; no other dated balance stated in text. Security opinion from Monitor's counsel confirms validity/priority as to accounts and inventory (subject to assumptions/qualifications). · page: 17 · as of: week ending 4/10/2009 (opening pre-filing facility balance per cash flow forecast) · amount: 21361000 · debtor: Indalex Limited, Indalex Holdings (B.C.) Ltd., 6326765 Canada Inc., Novar Inc. (the Applicants) · creditor: Senior Secured Lenders (Revolving Credit Facility) · currency: USD · security: Security over accounts and inventory of the Applicants (per Monitor's counsel opinion); also secured on assets of US Debtors for US Primary Indebtedness; secured guarantee by US Debtors of Canadian Primary Indebtedness