Ontario · CCAA
Fourth Report of the Monitor
Court officer report · 25 July 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 filing10 verified
- cash on handnote: This is cash collateral held by BMO against two expired letters of credit (Chubb Insurance Company of Canada; Guarantee Company of North America); the Applicants are not permitted to access or apply it under the Amended DIP Term Sheet, and the proposal is to distribute it to BMO to reduce the Secured Obligations. The report states no operating cash balance. · amount: 642000 · currency: CAD · qualifier: approximately
- fee scheduleengagements: form: report_table · rows: · money: tax: label: Harmonized Sales Tax · quote: Harmonized Sales Tax in the aggregate amount of $49,868.15 · amount: 49868.15 · fees: quote: fees in the amount of $378,341.50 · amount: 378341.5 · total: quote: in the total amount of $434,597.96, including fees in the amount of $378,341.50, disbursements in the amount of $6,388.31 and Harmonized Sales Tax in the aggregate amount of $49,868.15 · amount: 434597.96 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: disbursements in the amount of $6,388.31 · amount: 6388.31 · period: end: 2025-06-30 · kind: invoice · quote: for the period from March 19, 2025, to June 30, 2025 · start: 2025-03-19 · approval: quote: approving the fees and disbursements of the Monitor and the Monitor's counsel, Cassels Brock and Blackwell LLP · state: sought · averages: rate: 587.9 · quote: The average hourly rate in respect of time as outlined in Exhibit 'A' is $587.90. · currency: · invoices: · firm text: B. Riley Farber Inc. · firm quote: appointed B. Riley Farber Inc. (' B. Riley ') as Monitor of the Applicants · context quote: The Monitor has rendered four invoices in this matter, for the period from March 19, 2025, to June 30, 2025, in the total amount of $434,597.96, including fees in the amount of $378,341.50, disbursements in the amount of $6,388.31 and Harmonized Sales Tax in the aggregate amount of $49,868.15.; form: report_table · rows: · money: total: quote: Cassels incurred fees and disbursements including Harmonized Sales Tax (' HST '), in the amount of $394,188.06 · amount: 394188.06 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2025-06-30 · kind: invoice · quote: For the period from February 18, 2025, to June 30, 2025 · start: 2025-02-18 · approval: quote: approving the fees and disbursements of the Monitor and the Monitor's counsel, Cassels Brock and Blackwell LLP · state: sought · averages: rate: 605.03 · quote: The average hourly rate charged by Cassels was $605.03. · currency: · invoices: · firm text: Cassels Brock and Blackwell LLP · firm quote: the Monitor's counsel, Cassels Brock and Blackwell LLP (' Cassels ') · context quote: For the period from February 18, 2025, to June 30, 2025, Cassels incurred fees and disbursements including Harmonized Sales Tax (' HST '), in the amount of $394,188.06.
- operational summaryThe Applicants have resumed limited trucking operations with key customers while the CRO sells equipment, two real properties (Claireport and Mountainview) are under court-approval sale agreements, and refinancing options are being explored. Most employees have ceased working and BMO's secured obligations continue to be paid down from sale proceeds.
- process resultsbids: 12 · ndas: 10 · note: counts relate to the Listed Real Properties marketing process (Mountainview and Claireport) · solicited: 1521 · qualified bids: 12
- professional feesnote: Fees exclude disbursements of $6,388.31 and HST of $49,868.15 (total $434,597.96). The Monitor's counsel, Cassels Brock & Blackwell LLP, billed $334,946.50 in fees for February 18, 2025 to June 30, 2025, plus disbursements of $14,502.91 and HST of $44,738.65 (total $394,188.06). · party: B. Riley Farber Inc. (the Monitor) · amount: 378341.5 · period: March 19, 2025 to June 30, 2025 · currency: CAD
- purchaser10232367 Manitoba Ltd.; VVN Investments Inc.
- report date25 July 2025
- report noFourth Report of the Monitor
- sale advisorAvison Young (Canada) Inc.
- sale outcometext: Claireport sale approved and pending closing; Mountainview sale pending approval; Gaylord unsold · scope: parcel · status: pending_approval