British Columbia · CCAA
First Report of the Monitor dated June 26, 2026
Court officer report · 26 June 2026
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 filing10 verified
- report date26 June 2026
- report noFirst Report
- cash on handamount: 12000 · currency: CAD
- professional feesamount: 150000 · currency: CAD
- operational summarySince the Filing Date, the Monitor corresponded with counsel and management, engaged in discussions regarding the Project construction budget and remobilization plan, mailed/emailed CCAA notices and filed Forms 1 and 2, posted materials on the Case Website, arranged notice publication in the Vancouver Sun, assisted in preparing and reviewing the Cash Flow Forecast, reviewed the proposed increase to the Interim Financing Facility, reviewed the Debtors' Comeback Hearing materials, responded to service list requests, and prepared this First Report.
- cash on handnote: Opening cash balance of $12 thousand ($CAD thousands) at the start of the forecast period beginning June 29, 2026; this is a forecast opening balance, not a stated actual bank balance. The forecast projects a closing cash balance of $414 thousand after $1,000 thousand of DIP advances. · amount: 12 · currency: CAD · qualifier: in thousands; opening cash balance per the Cash Flow Forecast
- operational summaryThe Project (a townhome development) has been largely inactive since Q4 2025; construction has not restarted, and the Debtors are preparing an updated construction budget and remobilization plan while preserving the site using interim financing from KingSett.
- professional feesnote: Forecast professional fees of $150 thousand, shown as a single disbursement in the week ending 12-Jul-26. Amount is a projection under the Cash Flow Forecast, not fees actually incurred; tax treatment not stated. · party: Monitor and its counsel (up to $100,000) and the Debtors' counsel (up to $50,000) · amount: 150 · period: June 29 to August 2, 2026 (forecast) · currency: CAD
- report date26 June 2026
- report noFirst Report