Ontario · CCAA
a) a brief overview of 15 Ontario's business b) information with respect to: i) the funds receiver by the Monitor from the sale proceeds and cash on hand of 157 Ontario ii) Disbursements for post filing goods and services made by the Monitor on behalf of 157 Ontario ii) distributions made by the Monitor on behalf of 157 Ontario ;and iv) proposed distributions of funds on hand to certain stakeholders as more fully described herein. c) information with respect to the Claim process and the proposed appointment of a claims officer; and d) 157 Ontario's request for an extension of the stay of proceedings until December 24, 2019
Court officer report · 13 June 2019
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 filing7 verified
- cash on handnote: Remaining funds held by Monitor per the CDN $ column (D=A+B+C); a further US$781.88 is held in the U.S. $ column. Summary table is titled 'To June 6, 2019'. · as at: 2019-06-06 · amount: 1654760.58 · currency: CAD
- disbursementsnote: Disbursements for post-filing goods/services (B), CDN column; plus US$45.34 in bank charges. Separately, distributions to stakeholders (C) total $3,817,608.96 CAD and US$1,158,293.78. · since: to June 6, 2019 · amount: 187366.93 · currency: CAD
- operational summary157 Ontario, a former enterprise software provider (OrchestraCMS), sold its business to Bridgeline Digital on March 13, 2019 and is now winding down: the Monitor is making distributions, resolving three disputed unsecured claims, and seeking a stay extension to December 24, 2019 to conclude the CCAA proceedings.
- professional feesnote: Monitor fees paid. Also paid: legal fees $77,244.62 and accounting services $6,825.00; HST paid $21,483.72 shown as a separate line. Total post-filing disbursements $187,366.93 CAD. · party: Ernst & Young Inc. (Monitor) · amount: 81516.06 · period: post-filing to June 6, 2019 · currency: CAD
- receipts cumulativenote: Total receipts received by Monitor (A), CDN column; a further US$1,159,121.00 in the U.S. $ column. · since: closing of the Sale Transaction (March 13, 2019), to June 6, 2019 · amount: 5659736.47 · currency: CAD
- report date13 June 2019
- report noSecond Report of the Monitor