Alberta · CCAA
Fifth Report of the Monitor dated June 2, 2025
Court officer report · 2 June 2025
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What we verified from this filing2 verified
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: Total Monitor's Fees | | 669,082.50 | 2,428.24 | 671,510.74 | 33,575.55 · amount: 33575.55 · fees: quote: Total Monitor's Fees | | 669,082.50 · amount: 669082.5 · total: quote: Total Monitor's Fees | | 669,082.50 | 2,428.24 | 671,510.74 | 33,575.55 | (15,246.63) | 689,839.66 · amount: 689839.66 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Monitor's Fees | | 669,082.50 | 2,428.24 · amount: 2428.24 · period: end: 2025-05-31 · kind: cumulative · quote: FOR THE PERIOD OF April 4, 2024 TO May 3 1 , 2025 · start: 2024-04-04 · approval: state: unstated · averages: · currency: · invoices: tax: 4630.11 · fees: 92285 · quote: April 4, 2024 to June 30, 2024 | 3797 | 92,285.00 | 317.28 | 92,602.28 | 4,630.11 | - | 97,232.39 · total: 97232.39 · period end: 2024-06-30 · period start: 2024-04-04 · disbursements: 317.28; tax: 1120.61 · fees: 22412.25 · quote: July 1, 2024 to July 31, 2024 | 3840 | 22,412.25 | - | 22,412.25 | 1,120.61 | - | 23,532.86 · total: 23532.86 · period end: 2024-07-31 · period start: 2024-07-01; tax: 1228.14 · fees: 24175 · quote: August 1, 2024 to August 31, 2024 | 3920 | 24,175.00 | 387.75 | 24,562.75 | 1,228.14 | (15,246.63) | 10,544.26 · total: 10544.26 · period end: 2024-08-31 · period start: 2024-08-01 · disbursements: 387.75; tax: 3190.98 · fees: 63286.25 · quote: September 1, 2024 to September 30, 2024 | 3996 | 63,286.25 | 533.40 | 63,819.65 | 3,190.98 | - | 67,010.63 · total: 67010.63 · period end: 2024-09-30 · period start: 2024-09-01 · disbursements: 533.4; tax: 3407.59 · fees: 67778.25 · quote: October 1, 2024 to October 31, 2024 | 4061 | 67,778.25 | 373.56 | 68,151.81 | 3,407.59 | - | 71,559.40 · total: 71559.4 · period end: 2024-10-31 · period start: 2024-10-01 · disbursements: 373.56; tax: 3303.38 · fees: 66067.5 · quote: November 1, 2024 to November 30, 2024 | 4114 | 66,067.50 | - | 66,067.50 | 3,303.38 | - | 69,370.88 · total: 69370.88 · period end: 2024-11-30 · period start: 2024-11-01; tax: 1943.7 · fees: 38277.75 · quote: December 1, 2024 to December 31, 2024 | 4141 | 38,277.75 | 596.25 | 38,874.00 | 1,943.70 | - | 40,817.70 · total: 40817.7 · period end: 2024-12-31 · period start: 2024-12-01 · disbursements: 596.25; tax: 2137.78 · fees: 42535.5 · quote: January 1, 2025 to January 31, 2025 | 4228 | 42,535.50 | 220.00 | 42,755.50 | 2,137.78 | - | 44,893.28 · total: 44893.28 · period end: 2025-01-31 · period start: 2025-01-01 · disbursements: 220; tax: 3197.78 · fees: 63955.5 · quote: February 1, 2025 to February 28, 2025 | 4284 | 63,955.50 | - | 63,955.50 | 3,197.78 | - | 67,153.28 · total: 67153.28 · period end: 2025-02-28 · period start: 2025-02-01; tax: 4014.1 · fees: 80282 · quote: March 1, 2025 to March 31, 2025 | 4318 | 80,282.00 | - | 80,282.00 | 4,014.10 | - | 84,296.10 · total: 84296.1 · period end: 2025-03-31 · period start: 2025-03-01; tax: 3101.38 · fees: 62027.5 · quote: April 1, 2025 to April 30, 2025 | 4427 | 62,027.50 | - | 62,027.50 | 3,101.38 | - | 65,128.88 · total: 65128.88 · period end: 2025-04-30 · period start: 2025-04-01; tax: 2300 · fees: 46000 · quote: WIP to May 3 1 ,2025 (estimate) | N/A | 46,000.00 | - | 46,000.00 | 2,300.00 | - | 48,300.00 · total: 48300 · period end: 2025-05-31 · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. · context quote: KSV Restructuring Inc. (' KSV ') consented to act as proposal trustee (the ' Proposal Trustee ') in the NOI Proceedings.; form: invoice_listing · rows: · money: tax: label: GST · quote: Total Monitor's Legal Counsel Fees | | 321,865.00 | 3,096.07 | 324,961.07 | 16,044.56 · amount: 16044.56 · fees: quote: Total Monitor's Legal Counsel Fees | | 321,865.00 · amount: 321865 · total: quote: Total Monitor's Legal Counsel Fees | | 321,865.00 | 3,096.07 | 324,961.07 | 16,044.56 | - | 341,005.63 · amount: 341005.63 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Monitor's Legal Counsel Fees | | 321,865.00 | 3,096.07 · amount: 3096.07 · period: end: 2025-05-31 · kind: cumulative · quote: FOR THE PERIOD OF April 4, 2024 TO May 3 1 , 2025 · start: 2024-04-04 · approval: state: unstated · averages: · currency: · invoices: tax: 2299.97 · fees: 45670.5 · quote: May 31, 2024 to July 25, 2024 | 1585236 | 45,670.50 | 388.88 | 46,059.38 | 2,299.97 | - | 48,359.35 · total: 48359.35 · period end: 2024-07-25 · period start: 2024-05-31 · disbursements: 388.88; tax: 738.95 · fees: 14616 · quote: July 26, 2024 to August 29, 2024 | 1598518 | 14,616.00 | 183.08 | 14,799.08 | 738.95 | - | 15,538.03 · total: 15538.03 · period end: 2024-08-29 · period start: 2024-07-26 · disbursements: 183.08; tax: 1168.58 · fees: 22858.5 · quote: August 30, 2024 to Setepmber 30 , 2024 | 1598519 | 22,858.50 | 533.08 | 23,391.58 | 1,168.58 | - | 24,560.16 · total: 24560.16 · period end: 2024-09-30 · period start: 2024-08-30 · disbursements: 533.08; tax: 1545.77 · fees: 30773 · quote: October 1, 2024 to November 30, 2024 | 1610164 | 30,773.00 | 212.36 | 30,985.36 | 1,545.77 | - | 32,531.13 · total: 32531.13 · period end: 2024-11-30 · period start: 2024-10-01 · disbursements: 212.36; tax: 1048.5 · fees: 20892 · quote: December 1, 2024 to December 31, 2024 | 1614961 | 20,892.00 | 78.00 | 20,970.00 | 1,048.50 | - | 22,018.50 · total: 22018.5 · period end: 2024-12-31 · period start: 2024-12-01 · disbursements: 78; tax: 2091.81 · fees: 41713 · quote: January 1, 2025 to January 31, 2025 | 1620537 | 41,713.00 | 143.10 | 41,856.10 | 2,091.81 | - | 43,947.91 · total: 43947.91 · period end: 2025-01-31 · period start: 2025-01-01 · disbursements: 143.1; tax: 4359.68 · fees: 86306 · quote: February 1, 2025 to March 31, 2025 | 1626670 | 86,306.00 | 1,047.54 | 87,353.54 | 4,359.68 | - | 91,713.22 · total: 91713.22 · period end: 2025-03-31 · period start: 2025-02-01 · disbursements: 1047.54; tax: 1966.46 · fees: 39036 · quote: April 1, 2025 to April 30, 2025 | 1632744 | 39,036.00 | 333.28 | 39,369.28 | 1,966.46 | - | 41,335.74 · total: 41335.74 · period end: 2025-04-30 · period start: 2025-04-01 · disbursements: 333.28; tax: 824.84 · fees: 20000 · quote: WIP to May 3 1 , 2025 (estimate) | N/A | 20,000.00 | 176.75 | 20,176.75 | 824.84 | - | 21,001.59 · total: 21001.59 · period end: 2025-05-31 · disbursements: 176.75 · firm text: Bennett Jones LLP · firm quote: Michael Selnes, Bennett Jones LLP · context quote: Michael Selnes, Bennett Jones LLP for the Monitor, KSV Restructuring Inc.
- recovery outcomeentries: basis: plan · quote: These amendments included, among other things: (i) increasing the cash recovery to Affected Creditors from 55% to 70%; and (ii) including the unsecured creditors of 420 Investments as Affected Creditors pursuant to the Plan (the ' Amended Plan '). · pct of: unstated · outcome: distribution · pct low: 70 · pct high: 70 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the unsecured creditors of 420 OpCo and Green Rock ( OpCo Unsecured Creditors ) will have their proven claims satisfied in full through a combination of their proportional share of the Creditor Cash Pool, currently estimated at 55 cents on the dollar, and by electing to potentially receive the other 45 cents on the dollar, either from: · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: OpCo Unsecured Creditors · interim final: unstated · conditional on: proportional share of Creditor Cash Pool (currently estimated at 55 cents on the dollar) plus election to receive remaining 45 cents via shares or Tilray Litigation proceeds · claims qualifier: unstated; basis: plan · quote: Stoke Canada Finance Corp. ( Stoke ), the senior secured lender of OpCo, will have its claim paid in full; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: Stoke Canada Finance Corp. · creditor name: Stoke Canada Finance Corp. · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: reiterating that the Joint Bid would see all third-party creditors repaid in full, and indicating that High Park and One Plant remained ready and willing to progress the Joint Bid. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: bidder · class label: third-party creditors (under Joint Bid) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As currently contemplated, affected creditors are expected to receive 55 cents on the dollar and can elect between two options that may make them whole in the future. · pct of: unstated · outcome: distribution · pct low: 55 · pct high: 55 · class key: unsecured · stated by: court · class label: affected creditors · interim final: unstated · conditional on: can elect between 420 Parent shares or future Tilray Litigation proceeds for the remaining differential · cents on dollar: 55 · claims qualifier: unstated · stated on: 2025-06-02 · table missing: