Quebec · CCAA
Amended Monitor's Fifth Report
Court officer report · 3 October 2025
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What we verified from this filing9 verified
- operational summaryThe CCAA Parties continue to stabilize and preserve the Project (biofuels and electrolyzer plants), advancing critical-path work such as Hydro-Québec substation commissioning, while a court-approved sale (reverse vesting transaction) to StormFisher Hydrogen Ltd. is pending closing.
- process resultsbids: 1 · lois: 4 · ndas: 13 · note: 71 potential bidders contacted; 13 executed NDAs; 4 LOIs received by Extended Phase 1 Bid Deadline; 1 Binding Offer received by Extended Phase 2 Bid Deadline · as of: 2025-08-07 · solicited: 71 · qualified bids: 1
- professional feesnote: Administrative Expense Amount retained from Purchase Price for post-closing services · party: Monitor, ResidualCos and their respective legal counsel · amount: 750000 · period: after the Closing Date · currency: CAD
- purchaserStormFisher Hydrogen Ltd.
- recovery outcomeentries: basis: estimated · quote: Given the results of the SiSP, no distribution is expected to be made to any creditors other than the beneficiaries of the Administrative Charge, the KERP Charge and the Interim Lenders' Charge, but in the case of the latter, only for a portion of their DIP Financing Facility. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: creditors other than the beneficiaries of the Administrative Charge, the KERP Charge and the Interim Lenders' Charge · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the Monitor expects that there will be no distribution to any secured creditors (including any holders of legal hypothecs of construction), other than some of the beneficiaries of certain CCAA Charges, with certain of the CCAA Charges, including the Interim Lenders' Charge, which will not be reimbursed in full, and the Financial Advisor Charge, pursuant to which no amount will be paid. · pct of: unstated · outcome: nil · class key: court_charges · stated by: monitor · class label: Financial Advisor Charge · interim final: unstated · claims qualifier: unstated · stated on: 2025-10-03 · table missing:
- report date3 October 2025
- report noAmended Monitor's Fifth Report
- sale advisorBarclays
- sale outcometext: the Monitor selected the Purchaser's Bid as the Successful Bid, subject to Court approval · scope: whole_business · status: pending_approval