Quebec · CCAA

2025-05-05 ACL - Report of the Proposed Monitor

Pre-filing report · 5 May 2025

What we verified from this filing2 verified

financial positionnote: Figures in thousands of $ per table header, converted to full dollars; shareholders' deficiency of $(18,036) thousand; excludes potential liabilities related to pending and future asbestos-related litigation not currently provisioned · page: 9 · as at: 2024-12-31 · basis: Compilation of financial statements available publicly through SEDAR+; labelled 'audited' in table header, but Monitor states this work does not constitute an audit or review and expresses no opinion · scope: Entity-level: Asbestos Corporation Limited (ACL) · currency: CAD · total assets: 42995000 · total liabilities: 61031000
secured creditorsnote: Related party: Mazarin is ACL's parent company and majority shareholder; described in report as ACL's one main secured creditor as at Dec 31, 2024 · page: 11 · as of: 2024-12-31 · amount: 26729000 · debtor: Asbestos Corporation Limited · creditor: Mazarin Inc. · currency: CAD · security: Immovable hypothec registered up to principal amount of $70,000,000 (Trust Deed) registered Jan 28, 1986 (Thetford, no. 110884) and Feb 17, 1986 (Beauce, no. 368108); renewed May 11, 2015, registered May 15, 2015 under nos. 21517957, 21524569 and 21533174