Newfoundland and Labrador · CCAA
Second Report of the Monitor dated April 22, 2026
Court officer report · 22 April 2026
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: Actual ending cash balance for Weeks 1-7 (Feb 23 to Apr 10, 2026); also the opening balance of the Extended Cash Flow Forecast. Forecast ending cash at June 19, 2026 is USD 41,565. · as at: 2026-04-10 · amount: 304702 · currency: USD
- disbursementsnote: Actual operating cash disbursements vs. budget of USD 328,995; excludes restructuring fees of USD 29,193. · since: February 23, 2026 (Weeks 1-7, to April 10, 2026) · amount: 218957 · currency: USD
- operational summaryThe Companies continue day-to-day operations in the ordinary course while pursuing a re-tooled Project in discussions with the Province and potential development partners, and seeking DIP financing. Forecast cash is nearly exhausted by the end of the proposed stay extension to June 10, 2026, and EDC is pressing for a SISP.
- professional feesnote: Actual restructuring fees paid vs. budget of USD 73,051 due to timing of payment; the Monitor's fees as invoiced are to be paid on April 24, 2026. Forecast restructuring fees for April 13 to June 19, 2026 are USD 87,571. Tax treatment not stated. · party: Monitor, Monitor's counsel and Companies' counsel (restructuring fees paid) · amount: 29193 · period: February 23, 2026 to April 10, 2026 (Weeks 1-7) · currency: USD
- receipts cumulativenote: Actual operating cash receipts vs. budget of USD 234,769, mainly due to delayed start of the Radium North Port of Stephenville lease. · since: February 23, 2026 (Weeks 1-7, to April 10, 2026) · amount: 23259 · currency: USD
- report date22 April 2026
- report noSecond Report