British Columbia · Bankruptcy
Receiver's Seventh Report to the Court
Court officer report · 10 December 2021
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: After the December 1, 2021 draw of $2.1 million, the Receiver held $2.2 million in its trust account. · as at: 2021-11-30 · amount: 73635 · currency: CAD · qualifier: held in the Receiver's trust account
- disbursementsnote: Excess of receipts over disbursements is $73,635.00. · since: Filing Date, September 13, 2019 (to November 30, 2021) · amount: 12152583.83 · currency: CAD
- operational summaryThe Receiver continues care and maintenance of the Wolverine Mine, including environmental monitoring, water treatment upgrades and regulatory compliance. It continues to run the sale process (SISP), having concluded there was no acceptable offer for the majority of the assets and negotiating a sale of a small subset with a single party.
- professional feesnote: Legal fees and disbursements to the same date were $1,209,085.81. Projected Jan 1-Mar 31, 2022 professional fees are $36 thousand (mine) and $145 thousand (administration). The Receiver cannot estimate professional fees to completion. · party: Receiver (PricewaterhouseCoopers Inc.), fees excluding disbursements · amount: 1390908.5 · period: September 13, 2019 to November 30, 2021 · currency: CAD
- receipts cumulativenote: Includes advances from Government of Yukon of $11,769,638.00 (described in the text as Receiver borrowings of $11.8 million). · since: Filing Date, September 13, 2019 (to November 30, 2021) · amount: 12226218.83 · currency: CAD
- report date3 December 2021
- report noSeventh Report