Quebec · Court officer
Third report of the provisional administrator
Court officer report · 29 July 2025
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 filing5 verified · 2 withheld
- cash on handnote: WH Entities consolidated cash at end of the period Sept 13, 2024 to May 31, 2025. MVMT Entities: cash at end (excluding GIC) $1,206,948 (a further $3,000,000 was invested in a GIC). Solstar Entities: cash at end $49,600. Figures taken from the three entity-group tables. · as at: 2025-05-31 · amount: 1123627 · currency: CAD
- operational summaryThe provisional administration continues over the Whitehaven, MVMT and Solstar groups. Whitehaven is cooperating while a compliance action plan is implemented; MVMT has a loan portfolio mostly in arrears (77% of principal more than 180 days past due), with a court order permitting a sale/investment solicitation process; and Solstar is inoperative and insolvent, with an order permitting an assignment in bankruptcy.
- professional feesnote: Total fees for all professionals for the period are $1,395,400 before TPS/TVQ and $1,604,145 including TPS/TVQ; of the $1,604,145, $968,561 has been paid and $635,584 is payable. FTI's own figure of $739,033 ($326,905 paid; $412,128 payable) is stated before taxes. · party: FTI Consulting Canada Inc. (Provisional Administrator) · amount: 739033 · period: August 27, 2024 to May 31, 2025 · currency: CAD
- report date29 July 2025
- report noThird Report of the Provisional Administrator
2 extracted values are 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.