Ontario · CCAA
Third Report of the Monitor
Court officer report · 4 June 2024
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: comprised of fees of CDN$390,852.50 · amount: 390852.5 · total: quote: in the aggregate amount of CDN$451,338.72 · amount: 451338.72 · includes disbursements: true · approximate: false · disbursements: quote: disbursements of CDN$8,562.29 (primarily for the publication of a notice of the C · amount: 8562.29 · period: kind: invoice · label: Application Period · quote: the fees and disbursements of the Monitor for the period from the Filing Date to June 1, 2024 · approval: state: unstated · averages: rate: 593.01 · quote: at an average hourly rate of $593.01 · currency: code: CAD · quote: CDN$451,338.72 · invoices: · firm text: Alvarez & Marsal Canada Inc. · firm quote: Alvarez & Marsal Canada Inc. (' A&M ') was appointed as monitor · hours total: quote: A&M expended a total of 659.1 hours in connection with this matter during the Application Period · value: 659.1 · context quote: Alvarez & Marsal Canada Inc. (' A&M ') was appointed as monitor of the Applicants (in such capacity, the ' Monitor ') in these CCAA Proceedings.; form: time_summary · rows: Jennifer Linde; hours: 184.7 · quote: 184.7 Total Hours · row kind: subtotal · rate kind: standard · name as stated: Total Hours · money: tax: label: HST · quote: HST of CDN$17,107.67 · amount: 17107.67 · fees: quote: comprised of fees of CDN$130,729.50 · amount: 130729.5 · total: quote: in the aggregate amount of CDN$148,705.04 · amount: 148705.04 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: disbursements of CDN$867.87 · amount: 867.87 · period: kind: invoice · label: Applicable Period · quote: for the period from the Filing Date to May 31, 2024 · approval: state: unstated · averages: rate: 707.79 · quote: at an average hourly rate of $707.79 · currency: code: CAD · quote: CDN$148,705.04 · invoices: · firm text: Goodmans · firm quote: the fees and disbursements of Goodmans · hours total: quote: Goodmans expended a total of 184.7 hours in connection with this matter during the Application Period · value: 184.7 · context quote: the ' Goodmans Fee Affidavit ' and, together with the A&M Fee Affidavit, the ' Fee Affidavits '), attesting to the fees and disbursements of Goodmans, for the period from the Filing Date to May 31, 2024
- recovery outcomeentries: basis: actual · quote: following payment of the Employee Retention Bonuses pursuant to the AVO, on December 12, 2023, the Applicants distributed approximately $1.9 million to RBC as the DIP Agent, on behalf of the DIP Lenders, representing the full repayment of the principal balance owing under the DIP Facility ($1.8 million), as well as all accrued interest and fees owing (approximately $100,000) in accordance with the DIP Facility Agreement (the ' DIP Repayment '); · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · amount low: 1900000 · amount high: 1900000 · class label: DIP Lenders · creditor name: RBC as DIP Agent, on behalf of the DIP Lenders · interim final: unstated · claims qualifier: unstated; basis: actual · quote: following the DIP Repayment, the Monitor, on behalf of the Applicants, made a first interim distribution to RBC as the Agent, on behalf of the Lenders, on December 15, 2023 in the amount of $23.0 million; and · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · cumulative: false · class label: Lenders · creditor name: RBC as the Agent, on behalf of the Lenders · interim final: interim · claims qualifier: unstated; basis: actual · quote: following the termination and release of the D&O Charge, the DIP Lenders Charge and the Transaction Fee Charge, the Monitor, on behalf of the Applicants, made a second interim distribution to RBC as the Agent, on behalf of the Lenders, on February 15, 2024 in the amount of $850,000; and · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 850000 · cumulative: false · amount high: 850000 · class label: Lenders · creditor name: RBC as the Agent, on behalf of the Lenders · interim final: interim · claims qualifier: unstated · stated on: 2024-06-04 · table missing: