Ontario · CCAA
Seventh Report of the Monitor
Court officer report · 13 December 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 filing7 verified
- cash on handnote: Remaining funds held by the Monitor (CDN column); USD column remaining funds are 0.00. Table is titled 'To December 2, 2021'. · as at: 2021-12-02 · amount: 1281282.63 · currency: CAD
- disbursementsnote: Disbursements for post-filing goods/services only (CDN column); USD column shows US$89.91. Separate distributions to creditors total $3,967,273.66 CAD and US$1,158,293.78. · since: closing of the Sale Transaction through December 2, 2021 · amount: 646354.76 · currency: CAD
- operational summaryThe business was sold to Bridgeline Digital in March 2019, and the Monitor is holding remaining proceeds. It is working with the individuals affected by the CRA assessment on a framework to allow the CRA appeal to continue while distributing estate funds to unsecured creditors, and a stay extension to March 31, 2022 is sought.
- professional feesnote: Monitor fees paid. Also paid: accounting services $50,682.91, legal fees $232,396.24, Claims Officer fees and expenses $15,784.50, and HST paid $73,109.07. No combined professional fee total is stated. · party: Monitor (Ernst & Young Inc.) · amount: 259859.44 · period: post-filing disbursements through December 2, 2021 · currency: CAD
- receipts cumulativenote: CDN column, 'Total receipts received by Monitor'. A separate USD column shows total receipts of US$1,158,383.69. · since: closing of the Sale Transaction (March 13, 2019) through December 2, 2021 · amount: 5894911.05 · currency: CAD
- report date13 December 2021
- report noSeventh Report of the Monitor