British Columbia · Receivership (court-appointed)
Receiver's 3rd Report to Court
Court officer report · 29 April 2022
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 filing5 verified
- cash on handnote: Held in the Receiver's trust account; fully committed to outstanding accounts payable and financial commitments to work projects in process as of that date. · as at: 2022-04-08 · amount: 433762.86 · currency: CAD
- operational summaryThe Receiver continues de-risking and remediating the Port Alice mill site: removing hazardous chemicals and sludge, treating effluent, demolishing site infrastructure, and planning landfill closure, hog fuel disposal and marine infrastructure demolition. Further borrowing of $27.4 million is sought to fund work through March 31, 2023.
- professional feesnote: Includes fees of $4,602,919 over ~13,275 hours, disbursements of $145,583 and taxes of $237,425. Receiver's counsel Fasken separately invoiced $135,016 (fees $118,865, disbursements $1,823, taxes $14,328) for the Fee Period. The $4.9 million in the statement of receipts and disbursements differs from $4.6 million because the March 2021 invoice of $345,038 was paid during the Fee Period. · party: PricewaterhouseCoopers Inc. (the Receiver) · amount: 4985927 · period: April 1, 2021 to March 31, 2022 (Fee Period) · currency: CAD
- report date29 April 2022
- report noThird Report