Quebec · CCAA
Proposed monitor's pre-filing report - December 13, 2023
Pre-filing report · 13 December 2023
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
- financial positionnote: Table also reports long-term debt of $52.1M as at Sept 30, 2023; total assets not stated in the excerpt, though document states asset value is insufficient to cover liabilities; shareholder advances of $6.7M are subordinated to secured lenders' repayment · page: 7 · as at: 2023-09-30 · basis: unaudited consolidated financial statements (9-month period) · scope: consolidated - Duvaltex Inc., Duval Acquisition Inc., Duvaltex (US), Inc., Duvaltex (Canada) Inc., Duvaltex (America), Inc., Les Lainages Victor Ltée and Armfoam Inc. · currency: CAD · total liabilities: 81100000
- secured creditorsnote: Also proposed interim/DIP lender; amount excludes interest and expenses accrued since · page: 7 · as of: 2023-09-30 · amount: 18200000 · debtor: Duvaltex group · creditor: Wells Fargo Capital Finance Corporation Canada and Wells Fargo Bank, National Association · currency: CAD · security: Operating credit facility and term loan; security interests described in the Motion
- secured creditorsnote: Amount excludes interest and expenses accrued since · page: 7 · as of: 2023-09-30 · amount: 16200000 · debtor: Duvaltex group · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Term loan; security interests described in the Motion; priority over Wells' Interim Lender Charge per inter-lender agreements
- secured creditorsnote: Amount excludes interest and expenses accrued since · page: 7 · as of: 2023-09-30 · amount: 6200000 · debtor: Duvaltex group · creditor: Export Development Canada (EDC) · currency: CAD · security: Term loan; security interests described in the Motion; priority over Wells' Interim Lender Charge per inter-lender agreements
- secured creditorsnote: Amount excludes interest and expenses accrued since · page: 7 · as of: 2023-09-30 · amount: 9000000 · debtor: Duvaltex group · creditor: Investissement Québec (IQ) · currency: CAD · security: Term loan; security interests described in the Motion; priority over Wells' Interim Lender Charge per inter-lender agreements