Alberta · NOI
Third Report of the Proposal Trustee
Court officer report · 19 May 2022
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 filing5 verified
- cash on handnote: Historical opening cash balance as at the NOI filing date, cited in the cash flow forecast notes, not the report's current cash position. · as at: 2022-02-04 · amount: 102586.63 · currency: CAD · qualifier: cash balance equivalent to CAD in USD account with HSBC
- operational summaryVertex continues to operate while pursuing a sale/investment solicitation process (SISP) with due diligence ongoing among qualified bidders, and is seeking a further stay extension to July 14, 2022 to complete the SISP and make a viable proposal, with HSBC continuing to fund operations within agreed parameters.
- professional feesnote: Actual trustee fees for the period; Trustee's Legal Counsel Fees separately totalled $16,746, combined Total Restructuring Costs of $50,964 for the period. · party: Proposal Trustee (MNP Ltd.) · amount: 34218 · period: March 26, 2022 to May 6, 2022 · currency: CAD
- report date18 May 2022
- report noThird Report of the Proposal Trustee (Second Report of MNP Ltd. as Proposal Trustee)