Quebec · CCAA
First Report to the Court submitted by Deloitte Restructuring Inc. in its capacity as Proposed Monitor dated July 10, 2024
Pre-filing report · 10 July 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 filing4 verified
- financial positionnote: Total liabilities derived from balance sheet (current liabilities $26,251K + long-term liabilities $66,936K = $93,187K), consistent with the total debts figure ($93,187K = $63,657K secured + $29,530K unsecured) reported in the summary of debts table as at March 31, 2024. · page: 5 · as at: 2024-03-31 · basis: Unaudited interim condensed consolidated financial statements / Taiga's books and records · scope: Consolidated - Taiga Motors Corporation, Taiga Motors Inc., Taiga Motors America Inc., and CGGZ Finance Corp. · currency: CAD · total assets: 78179000 · total liabilities: 93187000
- secured creditorsnote: Reported as a single combined line 'Convertible debentures holders' in Taiga's books and records (Note 1 identifies NPC and Investissement Québec as the holders); not broken down between the two holders. · page: 7 · as of: 2024-03-31 · amount: 42723000 · debtor: Taiga (consolidated) · creditor: Northern Private Capital (NPC, together with its affiliates and funds managed by it) and Investissement Québec (IQ) · currency: CAD · security: Secured convertible debentures
- secured creditorspage: 7 · as of: 2024-03-31 · amount: 18733000 · debtor: Taiga (consolidated) · creditor: Export Development Canada (EDC) · currency: CAD · security: Term loan; described as principal secured creditor and DIP/interim lender
- secured creditorspage: 7 · as of: 2024-03-31 · amount: 2202000 · debtor: Taiga (consolidated) · creditor: Economic Development Agency of Canada (EDAC) · currency: CAD · security: Repayable contribution agreement