Nova Scotia · CCAA
Second Report of the Monitor
Court officer report · 9 April 2025
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What we verified from this filing4 verified
- report noSecond Report
- operational summaryOver the four-week period ended March 28, 2025, the Company generated cash receipts of $2.2 million, approximately $1.0 million less than forecast, primarily due to lower pellet and chip sales and an uncollected HST refund; cash disbursements were $0.2 million favourable to plan.
- report date9 April 2025
- recovery outcomeentries: basis: estimated · quote: The Company has advanced a motion seeking leave of the Court to secure the post filing bridge loans against the Unencumbered Lands as a means to avoid the cost of a claims process administration where the net distribution value to the Unsecured Creditors would return less than 2% of the unsecured creditors claim value. · pct of: unstated · outcome: shortfall · pct low: 2 · pct high: 2 · class key: unsecured · stated by: monitor · class label: unsecured creditors of the Resource estate · claims amount: 2200000 · interim final: unstated · claims qualifier: listed; basis: unstated · quote: Approximately $2,210,000 payable to Roynat as a final distribution and paid, immediately upon Closing subject to confirmation of the total debt owing to Roynat as at the Closing Date; · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 2210000 · amount high: 2210000 · class label: Roynat · creditor name: Roynat · interim final: final · conditional on: subject to the approval of the Court and confirmation of the total debt owing to Roynat as at the Closing Date · claims qualifier: unstated; basis: unstated · quote: Approximately $11,140,000 payable to CIBC as aggregate distributions to be paid as follows: · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 11140000 · cumulative: true · amount high: 11140000 · class label: CIBC · creditor name: CIBC · interim final: unstated · conditional on: subject to the approval of the Court; paid in part immediately upon Closing, with interim payments and a final distribution to be made on or before termination of the CCAA Proceedings, and residual balance assumed by the Purchaser · claims qualifier: unstated · stated on: 2025-04-09 · table missing: