Alberta · CCAA
2. Second Report of the Monitor
Court officer report · 3 December 2008
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 filing6 verified
- cash on handnote: Ending cash balance at the end of the Reporting Period (Nov 4 to Nov 28, 2008), compared to a projected $25.9 million in the Initial Order Forecast. Forecast ending cash at Jan 30, 2009 is $13,166,760. · as at: 2008-11-28 · amount: 22649767 · currency: CAD · qualifier: approximately $22.6 million
- disbursementsnote: Stated as net disbursements (net change in cash of (9,774,350)) compared to $7.0 million in the Initial Order Forecast; this is a net figure, not gross disbursements. · since: November 4, 2008 (Initial Order) to November 28, 2008 · amount: 9774350 · currency: CAD
- operational summaryUnder CCAA protection, EarthFirst continues limited Phase I construction of the Dokie I wind project (4 turbines erected, a fifth in progress, 3 being winterized) while curtailing funding of other projects to critical payments only, and pursues a sale/restructuring process via BF/GMP and a separate turbine sales agent.
- professional feesnote: Actual CCAA professional fees in the Reporting Period vs. $300,000 forecast; $868,459 forecast for Nov 29, 2008 to Jan 30, 2009. Selling agent fees were also $114,889 actual in the Reporting Period. Tax treatment of these figures is not stated. · party: CCAA professional fees (EarthFirst's counsel, the Monitor and its counsel) · amount: 306541 · period: November 4 to November 28, 2008 · currency: CAD
- report date3 December 2008
- report noSecond Report of the Monitor