Ontario · CCAA
Second Report of the Monitor
Court officer report · 9 December 2024
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 filing9 verified
- cash on handnote: Closing cash balance for the Reporting Period ended December 6, 2024 · as at: 2024-12-06 · amount: 5100000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total Disbursements for the Reporting Period ended December 6, 2024, figures in $000's · since: September 21, 2024 (start of Reporting Period) · amount: 11590000 · currency: CAD
- operational summaryTBS Canada is completing a going-concern sale of its business and franchise assets to a purchaser, with the Monitor seeking expanded powers to wind down the Company following closing, as the Company's directors and officers will resign and it will no longer have employees or operations.
- professional feesnote: Actual disbursement vs. budget of $1,348,000 (in thousands, table figure -661 = $661,000) · party: Restructuring professionals (Company's legal counsel and the Monitor and its legal counsel) · amount: 661000 · period: September 21, 2024 to December 6, 2024 · currency: CAD
- purchaser1001072685 Ontario Inc.
- receipts cumulativenote: Total Receipts for the Reporting Period ended December 6, 2024, figures in $000's · since: September 21, 2024 (start of Reporting Period) · amount: 13579000 · currency: CAD
- report date9 December 2024
- report noSecond Report
- sale outcometext: the Transaction represents the sole going concern transaction identified in the Sale Process that is capable of being consummated in the circumstances · scope: whole_business · status: pending_approval