Quebec · CCAA
Thirteenth Report of the Monitor
Court officer report · 13 September 2017
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
- cash on handnote: Ending cash balance of the Applicants as at August 26, 2017 (budget was $16,417). Excludes outstanding cheques of $35,011 and post-filing accounts payable of $10,368. Separately, the Monitor holds PP Cash Amount funds in trust, of which $561,771 remains available. · as at: 2017-08-26 · amount: 47726 · currency: CAD
- disbursementsnote: Total outflows per the cumulative statement of receipts and disbursements (cash basis). For the 17-week period April 30 to August 26, 2017, disbursements were $221,207. · since: November 12, 2015 (date of the Initial Order) to August 26, 2017 (approximately 94 weeks) · amount: 34457359 · currency: CAD
- operational summaryFollowing the February 2017 closing of the asset sale to Callidus entities, the Applicants no longer operate the business; their only remaining asset is the Retained Claims, which they intend to pursue by litigation against Callidus, funded by a proposed $2,000,000 interim financing (DIP Facility), while seeking a stay extension to April 11, 2018.
- receipts cumulativenote: Total inflows per the cumulative statement of receipts and disbursements (cash basis; excludes receipts and disbursements related to the Purchasers that flow through the Applicants' bank accounts since Closing). For the 17-week period April 30 to August 26, 2017, receipts were $93,241. · since: November 12, 2015 (date of the Initial Order) to August 26, 2017 (approximately 94 weeks) · amount: 34411069 · currency: CAD
- report date13 September 2017
- report noThirteenth Report of the Monitor