Ontario · CCAA
Fourth Report of the Monitor dated February 3, 2026
Court officer report · 3 February 2026
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What we verified from this filing14 verified · 1 withheld
- report date3 February 2026
- report noFourth Report
- operational summaryBHA continued to operate in the ordinary course under Monitor supervision, corresponded with the Monitor, McCarthy, SJHC and BHI regarding operating matters, client/supplier inquiries, the sale approval motion and the Transaction, took steps to close the Transaction, prepared weekly cash flow forecasts, provided operational updates to the Monitor, and maintained OAA Permits and Licenses in good standing; all BHA employees resigned or were terminated following closing of the Transaction.
- professional feesparty: Monitor (KSV) · amount: 98565 · period: December 1, 2025 to January 15, 2026 · currency: CAD; party: Cassels Brock & Blackwell LLP · amount: 129325 · period: December 1, 2025 to January 19, 2026 · currency: CAD
- cash on handamount: 2816000 · currency: CAD
- closing confirmedscope: the Subscribed Shares · outcome: completed · effective: 2026-01-30 · purchaser: Surbana Jurong Holdings (Canada) Ltd. · date basis: stated · approval order date: 2026-01-02
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 620.3 · quote: The average hourly rates for KSV and Cassels for the referenced billing periods were $620.30 and $1,151.60, respectively. · scope: KSV; rate: 600.63 · quote: The average hourly rates for KSV and Cassels for the referenced billing periods were $600.63 and $1,242.27, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. (' KSV ') was appointed as monitor · context quote: KSV Restructuring Inc. (' KSV ') was appointed as monitor in the CCAA proceeding (in such capacity, the ' Monitor ').; form: prose · rows: · money: total: quote: fees and disbursements, including Harmonized Sales Tax (' HST ') , in the amount of $146,601.18 · amount: 146601.18 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2026-01-19 · kind: invoice · quote: During the period from December 1, 2025 to January 19, 2026 · start: 2025-12-01 · approval: state: unstated · averages: rate: 1151.6 · quote: The average hourly rate charged by Cassels was $1,151.60. · scope: Cassels · currency: · invoices: · firm text: Cassels · firm quote: Cassels · context quote: During the period from December 1, 2025 to January 19, 2026, Cassels incurred fees and disbursements, including Harmonized Sales Tax (' HST ') , in the amount of $146,601.18.
- operational summaryThe Transaction closed on January 30, 2026; BHA (now the 'Purchased Entity') continues operating with all employees retained, while ResidualCo was added as a debtor holding excluded assets/liabilities and has no operations, employees, or governance infrastructure, requiring the Monitor's expanded powers to administer its wind-down and claims process.
- process resultslois: 1 · ndas: 11 · note: the Teaser Letter was sent to 93 prospective purchasers; 11 parties executed the NDA; 10 parties who executed the NDA were provided access to the VDR (Phase 1 Qualified Bidders); other than the Stalking Horse Bid, one Qualified LOI was received · as of: 2025-12-24 · solicited: 93 · qualified bids: 10
- professional feesnote: Excludes disbursements and HST. Cassels fees for the same period noted separately at $129,325.00. Average hourly rates were $620.30 (KSV) and $1,151.60 (Cassels). · party: Monitor (KSV Restructuring Inc.) and Cassels Brock & Blackwell LLP (Monitor's counsel) · amount: 98565 · period: December 1, 2025 to January 15, 2026 (KSV); December 1, 2025 to January 19, 2026 (Cassels) · currency: CAD
- purchaserSurbana Jurong Holdings (Canada) Ltd.
- report noFourth Report
- sale outcometext: The Transaction closed on January 30, 2026. · scope: whole_business · status: closed
- stalking horseSurbana Jurong Holdings (Canada) Ltd.
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.