British Columbia · Bankruptcy
Receiver's Ninth Report
Court officer report · 28 April 2022
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: The Receiver also holds approximately $340 thousand in its trust account as of March 30, 2022. · as at: 2022-02-28 · amount: 1050000 · currency: CAD
- disbursementssince: Filing Date (September 13, 2019) to February 28, 2022 · amount: 14800000 · currency: CAD
- operational summaryThe Receiver continues care and maintenance and environmental monitoring/water treatment at the Wolverine Mine, has closed the Almaden sale of a small subset of assets, and is seeking a $3.0 million increase to its borrowing charge to fund the receivership to October 31, 2022.
- professional feesnote: Report states Receiver fees (excluding disbursements) of $1.6 million and legal fees of $1.5 million; no combined total stated. Receiver cannot estimate fees to completion; estimated April 1 to October 31, 2022: $63 thousand related to the Mine and $238 thousand related to receivership administration. · party: Receiver (PwC) and Receiver's counsel (Dentons) · period: Filing Date to February 28, 2022 · currency: CAD
- receipts cumulativenote: Consisting of Receiver borrowings of $15.3 million, GST refunds of $437.8 thousand, interest of $75 thousand, cash on hand of $20.2 thousand and other refunds of $12.3 thousand. · since: Filing Date (September 13, 2019) to February 28, 2022 · amount: 15900000 · currency: CAD
- report date30 March 2022
- report noNinth Report