Prince Edward Island · CCAA
Monitor's Sixth Report to Court - August 18, 2010
Court officer report · 18 August 2010
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 filing7 verified
- cash on handnote: Ending bank balance: $692 per Mariner bank accounts plus $89,119 per GT Trust account. The company and trust accounts also hold $78,584 USD, which has not been converted to CAD. · as at: 2010-08-17 · amount: 89811 · currency: CAD
- disbursementsnote: Total disbursements to August 17, 2010, including $650,000 under the GE Agreement. Net cash flow $82,896. Unaudited. · since: January 14, 2010 (filing date) · amount: 1217067 · currency: CAD
- operational summaryMariner is no longer paying operating invoices after the April 29, 2010 Order, only urgent conservatory disbursements. Chestnut Ventures now pays wages and conservation costs under a lease agreement. The company is seeking a stay extension to late September 2010 to try to agree a plan with its Principal Creditors.
- professional feesnote: Per the cash flow statement; includes approximately $173,000 (Monitor) and $55,000 (legal), each before HST, paid the week of June 11, 2010, and $3,465 in consulting fees. Fees are subject to approval by the Court. · party: Monitor (Grant Thornton Limited) and legal counsel, plus consulting fees · amount: 264556 · period: January 14, 2010 to August 17, 2010 · currency: CAD
- receipts cumulativenote: Total receipts to August 17, 2010: AR collections $207,766, sales $989,440, other $57,337, GST refund $45,419. Unaudited. · since: January 14, 2010 (filing date) · amount: 1299963 · currency: CAD
- report date18 August 2010
- report noSixth Report