Ontario · NOI

First Report of the Proposal Trustee

Court officer report · 5 December 2023

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 filing1 verified

secured creditorsnote: POST-FILING interim (debtor-in-possession) financing arranged during the NOI proceedings, not a pre-filing creditor; recorded here because the report recites it on its face. Amount null per rule 3 (the $100,000 is a facility maximum on a draw basis; no outstanding/drawn balance is stated). RELATED PARTY: the DIP Lender is Andrew Millar, who page 21 identifies as CEO of Relogix Inc. and the affiant of the Millar Affidavit. NOI filed 2023-11-29 (Filing Date); DIP Term Sheet effective 2023-12-04. Term-sheet detail on PDF pages 13-21; $100,000 facility and 5% at pages 5, 13, 15; super-priority charge at pages 6, 16. · page: 5 · as of: 2023-12-04 · debtor: Relogix Inc. (Estate No. 33-3015853) · creditor: DIP Lender (Andrew Millar) · currency: CAD · security: Court-ordered super-priority DIP Charge over all Collateral (all present and future property, assets and undertaking, real and personal), to rank in priority to all security interests, claims, trusts and deemed trusts (statutory or otherwise) per the PPSA/land registrations, subject to Court approval (DIP Order); facility limit / maximum principal amount of $100,000 (a facility limit, NOT an outstanding balance); interest 5% per annum on daily balance outstanding