British Columbia · CCAA
Twenty Sixth Report of the Monitor
Court officer report · 10 April 2025
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
- closing confirmedscope: the Assets · outcome: completed · purchaser: West Moberly · date basis: unstated · approval order date: 2025-02-03
- operational summaryThe Company closed the sale of its Wapiti and CBM assets to West Moberly, with proceeds being used to pay out the DIP Lender and outstanding professional fees, while the Company now seeks approval of a sale process and stalking horse agreement for its remaining assets, which the Monitor cannot yet support due to missing documentation.
- purchaserWest Moberly; price: note: DIP Lender APA purchase price · basis: cash · amount: 1650000 · sealed: false · scope: the shares of Wapiti and CBM owned by CDI in addition to the assets of Wapiti and CBM (the "Assets") · status: not_completed · name note: DIP Lender (Mrs. Liu) proposed purchaser under the DIP Lender APA, not approved · structure: hybrid · name source: recital · relationship: secured_lender_credit_bid
- report date10 April 2025
- report noTwenty Sixth Report
- sale outcometext: SISP for remaining assets sought but not yet approved; documents supporting the application were incomplete · scope: whole_business · status: pending_approval
- stalking horseMrs. Liu