Ontario · CCAA
Monitor's Pre-Filing Report
Pre-filing report · 18 May 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 filing5 verified
- secured creditorsnote: Listed on service list as 'Secured Party'; no amount or security details given on these pages · page: 5 · debtor: Clearbeach Resources Inc. and/or Forbes Resources Corp. · creditor: Ford Credit Canada Company · currency: CAD
- secured creditorsnote: Represented by counsel on service list; capacity/security not described on these pages · page: 5 · debtor: Clearbeach Resources Inc. and/or Forbes Resources Corp. · creditor: CIBC Mortgages Inc. · currency: CAD
- secured creditorsnote: Described as senior secured lender; no balance stated on these pages except separately for Forbes below · page: 8 · debtor: Clearbeach Resources Inc. and Forbes Resources Corp. · creditor: PACE Savings and Credit Union Limited · currency: CAD · security: senior secured lender; security to be assigned to Oil Patch Services Inc. or Lowrie-designated entity pursuant to Settlement Agreement
- unsecured creditorsnote: Approximate figure; claims stayed by NOI Proceedings and not paid or settled as of report date · page: 11 · as of: date of report (May 18, 2021) · basis: stated as approximate arrears owed to landowners as of the date of the report · amount: 178000 · debtor: Clearbeach Resources Inc. · creditor: Landowners (lease and royalty arrears) · currency: CAD
- secured creditorsnote: Stated as Forbes' only liability, a secured loan advanced by PACE · page: 12 · amount: 500000 · debtor: Forbes Resources Corp. · creditor: PACE Savings and Credit Union Limited · currency: CAD · security: secured loan