Ontario · CCAA
Monitor’s Second Report
Court officer report · 20 July 2014
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: Trust's cash and near-cash balances; in addition, short-term investments of $150,732,000 as at June 1, 2014 (total $153,122,364). The cash balance at July 8, 2014 will differ due to variations between June 1 and July 8. · as at: 2014-06-01 · amount: 2390364 · currency: CAD · qualifier: opening cash and near-cash balance (estimated)
- operational summaryThe CCAA Parties are proceeding toward a creditors' meeting, sanction of the Plan and an initial distribution to Noteholders, funded mainly by a projected Settlement Agreement payment (~$728M inflows in week 8). The Monitor is still reviewing pre-filing transactions and supports extending the stay to September 15, 2014.
- professional feesnote: Forecast, not incurred; stated as 'approximately $610,00' in text and 610,000 in the cash flow table. Further fees will accrue after week 7 and be paid from the Costs Reserve ($1,510,000). · party: Monitor and its legal counsel, and the CCAA Parties' legal advisor (forecast) · amount: 610000 · period: 10-week period July 8 to September 15, 2014 · currency: CAD
- report date20 July 2014
- report noSecond Report