Quebec · CCAA
Rapport du contrôleur du 4 février 2022
Court officer report · 4 February 2022 · French
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 filing8 verified
- financial positionnote: No total assets or total liabilities stated. Components: Ile Locas lots 1 061 943, 1 061 944, 1 061 947, 1 263 542 are the Debtors' only assets; net realization proceeds from sale estimated at 9 840 00$ [sic, as written in the report]. At the initial order: secured creditors $1,428,000 and unsecured creditors $5,296,000; the Debtors had no revenue. Estimated claims under the plan: DIP financing charge $1,900,000; secured claims $1,756,000; unsecured claims $8,105,000 (incl. $710,000 unsecured portion of secured creditors' interest); amount for Debtors/2874873 Canada inc. $1,088,000. · basis: Controller's report relying on unaudited financial information, company books and records and discussions with management; no audit or review performed · scope: Promotions Anne Delisle inc. and Société en commandite Tilly de Laval (the Debtors), non-consolidated statement; only assets are the real estate lots of Ile Locas · currency: CAD
- operational summarySince the CCAA stay the Debtors have had no operations or revenue beyond some environmental compliance work on Ile Locas; the Controller, with court authorization, accepted the City of Laval's $10.2M offer to purchase the island and proposes a plan to distribute the net proceeds.
- process resultsbids: 3 · as of: 2020-01-27 · qualified bids: 3
- professional feesnote: Estimated amount of fees and professional costs to be paid under the plan (item 8.5); the administration charge was initially $75,000 and was increased to $250,000. · party: all professionals on the file · amount: 125000 · currency: CAD
- purchaserVille de Laval
- recovery outcomeentries: basis: plan · quote: Permettra le remboursement des charges prioritaires ayant permis la vente de l'Ile Locas de l'ordre de 1 900 000 $. · pct of: unstated · outcome: paid_in_full · class key: court_charges · stated by: monitor · amount low: 1900000 · amount high: 1900000 · class label: Charges prioritaires · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Permettra le paiement des réclamations garanties, soit un montant de l'ordre de 1 756 000 $. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · amount low: 1756000 · amount high: 1756000 · class label: Réclamations garanties · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Permettra le versement aux créanciers non-garantis d'un dividende estimé entre 60 % et 65 % des créances dues en date de ce rapport · pct of: unstated · outcome: distribution · pct low: 60 · pct high: 65 · class key: secured · stated by: monitor · class label: Créanciers non-garantis · interim final: unstated · claims qualifier: unstated · stated on: 2022-02-04 · table missing:
- report date4 February 2022
- sale outcometext: Le Contrôleur a accepté l'offre de la Ville de Laval le 6 janvier 2022. · scope: whole_business · status: approved