Alberta · NOI
Ninth Report of the Monitor
Court officer report · 10 February 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- cash on handnote: Includes a holdback of at least $615,000 for the Directors' Charge, Administration Charge and potential trust/property claims. · amount: 2303000 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Transaction contemplated by the Subscription Agreement · outcome: completed · effective: 2024-12-11 · purchaser: TexCal Energy Canada Inc. · date basis: stated
- disbursementsnote: Total uses of Cash Proceeds including Cure Costs, Post-Filing Municipal Taxes, APMC, Post-Filing obligations, Arena, Sales Agent Fee, and Other. · since: closing of the Transaction · amount: 8215000 · currency: CAD
- operational summaryFollowing the closing of the sale transaction, ResidualCo now holds the excluded assets and cash proceeds, and the Monitor is reviewing surplus leased equipment and preparing to administer a claims process before making distributions.
- purchaserTexCal Energy Canada Inc.
- receipts cumulativenote: Total sources of Cash Proceeds administered by the Monitor to date, comprising Subscription Price, Adjustment Amount, and Interest. · since: closing of the Transaction · amount: 10518000 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Based on the Company's books and records, the quantum of Provable Claims is substantially higher than the ResidualCo Funds available for distribution to creditors, so there is no possibility of funds being available for distribution to pre-filing unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: pre-filing unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-02-10 · table missing:
- report date10 February 2025
- report noNinth Report
- sale advisorMcDougall Auctioneers Ltd.
- sale outcometext: The Applicants closed the Transaction contemplated by the Subscription Agreement · scope: whole_business · status: closed