Ontario · NOI
Second Report of Richter Advisory Group Inc. in its capacity as Trustee under the Notices of Intention to make a Proposal of Jones Canada, Inc. and Nine West Canada LP – dated June 12, 2018
Court officer report · 12 June 2018
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 filing10 verified · 1 withheld
- cash on handnote: Reported cash balance approximately $11.7 million (table: Ending Cash $11,666 thousand vs. forecast $5,947 thousand); approximately $5.7 million higher than forecast. · as at: 2018-06-02 · amount: 11700000 · currency: CAD · qualifier: approximately
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · label: the Period · approval: state: unstated · averages: rate: 503.05 · quote: The average hourly rate billed by the Proposal Trustee during the Period is $503.05 · currency: · invoices: · firm text: Richter Advisory Group Inc. · firm quote: SECOND REPORT OF RICHTER ADVISORY GROUP INC. IN ITS CAPACITY AS TRUSTEE UNDER THE NOTICES OF INTENTION TO MAKE A PROPOSAL OF JONES CANADA, INC. AND NINE WEST CANADA LP · context quote: filed by Richter Advisory Group Inc. ('Richter') in its capacity as proposal trustee; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 506.33 · quote: The average hourly rate of Aird & Berlis LLP is $506.33. · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: AFFIDAVIT OF IAN AVERSA OF AIRD & BERLIS LLP, SWORN JUNE 11,2018 · context quote: AFFIDAVIT OF IAN AVERSA OF AIRD & BERLIS LLP, SWORN JUNE 11,2018
- operational summaryThe NW Canada Entities are conducting an orderly liquidation of inventory and FF&E at their retail stores with a consultant, expected to conclude by June 30, 2018, with wholesale inventory largely sold; the going-concern option is not viable and a proposal to creditors is intended to be developed.
- process resultsbids: 1 · ndas: 20 · note: figures from the NW US Entities' extensive marketing process and Stalking Horse Sales Process, as described in the Schipani Affidavit · as of: 2018-06-04 · solicited: 50 · qualified bids: 1
- professional feesnote: Excludes HST. Plus expenses and disbursements of $43,299.02 (excluding HST), which include $42,653.25 of Aird & Berlis fees and disbursements. Counsel Aird & Berlis LLP separately: fees $45,418.00 plus disbursements $974.50 (excluding HST) for February 23, 2018 to June 10, 2018. · party: Richter Advisory Group Inc. (Proposal Trustee) · amount: 457149.69 · period: February 21, 2018 to June 2, 2018 · currency: CAD
- report date12 June 2018
- report noSecond Report
- sale advisorLazard Freres & Co. LLC; Consensus Advisors LLC; Richter Advisory Group Inc.; SB360 Capital Partners LLC; Oberfeld Snowcap Inc.
- sale outcometext: ABG's revised bid selected as winning bid at the Auction; NW US Entities seeking approval of the Proposed Transaction; Canadian assets excluded and no ongoing Canadian operations · scope: whole_business · status: bid_selected
- stalking horseAuthentic Brands Group LLC
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.