British Columbia · CCAA
Eleventh Report of the Monitor (March 19, 2021)
Court officer report · 19 March 2021
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 filing6 verified
- cash on handnote: Closing Cash Position actual of $369 (C$000s) for the period ended February 28, 2021 versus budget of $285 (C$000s). Excludes US$1.43 million of 1120 Funds, $265,000 from the QC Purchaser and $25,000 from Lifestyle, all held in trust by the Monitor. · as at: 2021-02-28 · amount: 369000 · currency: CAD · qualifier: closing cash position (actual)
- disbursementsnote: Total actual disbursements of $92 (C$000s) vs. budget of $176 (C$000s) for the period November 1, 2020 to February 28, 2021: pre-closing store operating disbursements $23 and professional fees $69 (C$000s). Period figure, not cumulative since filing. Total receipts for the period were nil. · since: November 1, 2020 (period ended February 28, 2021) · amount: 92000 · currency: CAD
- operational summaryThe companies are not operating; all employees transferred to Lifestyle or the QC Purchaser at closing, and the Monitor is winding down the estate, with remaining matters being the Chilean Claim adjudication and distribution of the 1120 Funds. The Monitor seeks authority to assign certain entities into bankruptcy and extend the stay to September 30, 2021.
- professional feesnote: Actual professional fees of $69 (C$000s) vs. budget of $145 (C$000s), $76,000 lower than forecast due to lower activity levels. Forecast professional fees for March 1 to September 30, 2021 total $175 (C$000s) (forecast, not actual). · party: Monitor and its legal counsel (restructuring professionals) · amount: 69000 · period: November 1, 2020 to February 28, 2021 · currency: CAD
- report date19 March 2021
- report noEleventh Report