Quebec · CCAA
Thrid Report to the Court
Court officer report · 23 April 2025
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 filing11 verified
- cash on handnote: Stated as $4,9 M in narrative text; Appendix A shows exact cash balance at end of $4,943 thousand for the 4-week period. · as at: 2025-04-20 · amount: 4900000 · currency: CAD · qualifier: approximately
- disbursementsnote: Actual total disbursements for the 4-week period ended April 20, 2025, per Appendix A, in thousands of CAD. · since: four-week period ended April 20, 2025 (per March CF Forecast comparison) · amount: 10890000 · currency: CAD
- operational summaryThe Debtors continued operating in the ordinary course during the CCAA proceedings while pursuing a going-concern sale (the Going Concern SISP), resulting in a Successful Bid from Groupe Mach Acquisition Inc. that, if approved, will continue the business and retain approximately 461 active employees.
- process resultsbids: 4 · ndas: 53 · note: Four offers received by the Bid Deadline; two were Going Concern Bids from Related Bidders; the remaining were limited to select assets. · as of: 2025-04-16 · solicited: 235
- professional feesnote: Figure is a forecasted/hypothetical assumption, not an incurred fee to date; per Appendix B notes, this is the Monitor's estimate of professional fees for the forecast period, in thousands of CAD. · party: Monitor, Monitor's legal counsel, SISP Advisor, Debtors' legal counsel, and Applicant's legal counsel (aggregate estimate) · amount: 2628000 · period: 13-week period ending July 20, 2025 (April CF Forecast) · currency: CAD
- purchaserGroupe Mach Acquisition Inc.; price: note: Liquidation bid was lower than the Proposed Transaction and not selected. · sealed: true · currency: CAD · scope: assets of the Sellers (liquidation) · status: not_completed · name note: unnamed party that submitted the liquidation bid for the Sellers' assets · structure: assets · name source: recital · relationship: unstated
- receipts cumulativenote: Actual total receipts for the 4-week period ended April 20, 2025, per Appendix A, in thousands of CAD. · since: four-week period ended April 20, 2025 (per March CF Forecast comparison) · amount: 9555000 · currency: CAD
- report date25 April 2025
- report noThird Report
- sale advisorFTI Consulting Canada Inc.
- sale outcometext: Proposed Transaction with GM Group selected as Successful Bid, pending Court approval · scope: whole_business · status: pending_approval