Quebec · CCAA
Sixteenth Report to the Court submitted by Deloitte Restructuring Inc. in its capacity as Monitor dated August 21, 2026
Court officer report · 21 August 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 filing9 verified
- cash on handnote: Ending cash and cash equivalents; additional $17.155M (approx. $17.1M) held in trust by the Monitor, total ending cash including in-trust $24.849M. · as at: 2026-08-09 · amount: 7694000 · currency: CAD · qualifier: excluding cash held in trust by the Monitor
- disbursementsnote: Total disbursements for the 13-week period (payroll, vendors, restructuring fees, environmental remediation). · since: May 11, 2026 (13-week period ended August 9, 2026) · amount: 5557000 · currency: CAD
- operational summaryStornoway remains in cold care and maintenance at the Renard site, continuing to pay employees and suppliers in the normal course; LIFT is expected to fund substantially all care and maintenance costs during the call option period.
- professional feesnote: Actual restructuring fees per Appendix A vs. budget of $411K; the text describes an unfavorable variance of $494K attributed to additional work on the LIFT Call Option Agreement and environmental review. Tax treatment not stated. · party: Restructuring fees (Monitor and legal counsel) · amount: 494000 · period: 13-week period ended August 9, 2026 · currency: CAD
- receipts cumulativenote: Total receipts for the 13-week period (recoverable taxes $55K, other receipts $225K); excludes amounts held in trust by the Monitor. · since: May 11, 2026 (13-week period ended August 9, 2026) · amount: 280000 · currency: CAD
- report date21 August 2026
- report noSixteenth Report
- sale advisorTCL Asset Group Inc.
- sale outcometext: The Court rendered a Liquidation Order authorizing TCL to conduct the sales of the Remaining Non-Core Assets, together with an Approval and Vesting Order for the spare parts transaction. · scope: liquidation · status: liquidation_in_progress