Quebec · CCAA
Eighth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Court officer report · 11 November 2019
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What we verified from this filing9 verified
- cash on handnote: Consolidated 'Net cash (Shortfall) - End' balance from the actual-vs-budget cash flow for the 27-week period ended November 9, 2019; table figures stated in $000s. · as at: 2019-11-09 · amount: 1307000 · currency: CAD
- closing confirmedscope: substantially all of the assets of certain of the CCAA Parties · outcome: completed · purchaser: FNXInnov Inc. · date basis: unstated · approval order date: 2018-11-12; scope: Life Insurance Policies · outcome: completed · effective: 2019-11-06 · purchaser: 11521446 Canada Inc. · date basis: stated · approval order date: 2019-07-19
- disbursementsnote: Total Disbursements figure from the Budget to Actual CCAA Proceedings Cash-Flow table, in $000s. · since: 27-week period ended November 9, 2019 · amount: 868000 · currency: CAD
- operational summarySubstantially all business operations of the Vendors are now conducted by the Purchaser (FNX-Innov) following the earlier asset sale, and the CCAA Parties are no longer collecting accounts receivable; remaining activity involves monitoring, monetizing residual assets (e.g., life insurance policies), and pursuing litigation such as the City of Montreal appeal.
- professional feesnote: A separate line 'Professional fees - Other' of $260K (000s) is also reported in the same table but relates to matters outside the CCAA proceedings (e.g., life insurance sale). · party: Professionals engaged in the CCAA proceedings (Monitor, Monitor's counsel, Applicants' counsels) · amount: 131000 · period: 27-week period ended November 9, 2019 · currency: CAD
- purchaserFNXInnov Inc.; 11521446 Canada Inc.
- receipts cumulativenote: Total Collections figure from the Budget to Actual CCAA Proceedings Cash-Flow table, in $000s. · since: 27-week period ended November 9, 2019 · amount: 1357000 · currency: CAD
- report date11 November 2019
- report noEighth Report