Ontario · CCAA
First Report of the Monitor .pdf
Court officer report · 7 November 2019
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: Closing bank cash balance per the variance report (R&D) for the week ended November 1, 2019; forecast closing balance was 392,017. · as at: 2019-11-01 · amount: 535827 · currency: USD
- operational summaryThe Applicants continue to operate under CCAA protection, funding mink farmers' Kit Loans, transitioning farmer loans to Saga Furs under the Saga Arrangement, and, under the proposed amended order, listing Polish and US real property and the Head Office ground lease for sale while repaying the Syndicate Debt from distributable cash.
- professional feesnote: Report states professional costs totalled approximately $95,000 versus approximately $537,000 forecast; payments were primarily retainers, with fee arrears deferred to preserve liquidity. Tax treatment not stated. · party: Applicants' professionals (monitor, counsel, advisors) generally · amount: 94884 · period: week ended November 1, 2019 · currency: USD
- report date7 November 2019
- report noFirst Report of the Monitor