Alberta · Proposal
Second Report of the Proposal Trustee
Court officer report · 8 April 2024
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
- operational summaryTool Shed continued regular brewery operations during the NOI proceedings while the Proposal Trustee ran a SISP that concluded with the Stalking Horse Bid being declared the Successful Bid; the Company is now seeking approval of a reverse vesting order and a further stay extension to close that transaction, which would preserve the business and its roughly 20 employees.
- professional feesnote: Further estimated costs to complete amount to $121,000, for a total estimated amount of $241,800; broken down as KPMG $87,480 owing plus $41,000 estimated to complete, MLT Aikins $23,320 owing plus $10,000 estimated to complete, Miller Thomson approximately $80,000 owing (net $60,000 after forecast payment) plus $70,000 estimated to complete. · party: Proposal Trustee (KPMG Inc.), Proposal Trustee's counsel (MLT Aikins LLP), and Company's counsel (Miller Thomson LLP) · amount: 120800 · period: as at the date of this report · currency: CAD
- purchaser2582568 Alberta Inc.
- report date8 April 2024
- report noSecond Report
- sale outcometext: the Stalking Horse Agreement and the reverse vesting order requested by the Company · scope: whole_business · status: pending_approval
- stalking horse2582568 Alberta Inc.