Ontario · CCAA

The purpose of this fifty-ninth report of the Monitor (the "Fifty-Ninth Report") is to report to this Honourable Court on the following matters: a) consolidated cash position and liquidity as at February 5, 2011; b) actual receipts and disbursements from October 3, 2010 until February 5, 2011; c) cash flow forecast for the period from February 6, 2011 until June 30, 2011; d) consolidated Canadian entities' net inter-company position by region; e) status of Applicants' claims process and cross-border claims; f) status of EMEA inter-company claims process; g) current status of the Group Supplier Protocol Agreement ("GSPA"); h) status of Health and Welfare Trust ("HWT"); i) status of Termination Fund; j) status of the Employee Hardship Application Process; k) asset divestitures and allocation matters; 1) status of foreign proceedings; m) other restructuring activities; and n) the Applicants' request for an order that: i. the employee hardship application criteria be amended such that sufficient hardship funds (the "Required Funds") be made available for payment of CAD $3,000 to each of those employees terminated from July 1, 2010 through to and including December 31, 2010 who meet the other criteria for Termination Fund payments, when combined with unused funds in the Termination Funds; ii. the amount available for hardship applications be reduced by the Required Funds iii. the Employee Hardship Application Process be extended up to June 30, 2011; iv. the Eligibility Requirements and the Procedure with respect to Employee Hardship Payments Applications be amended consistent with (i) through (iii) above; and v. the stay of proceedings be extended up to and including June 30, 2011

Court officer report · 18 February 2011