Quebec · Proposal
Report on the state of the Insolvent Person’s business and financial affairs, including the Statement of projected cash flow for the period from July 28 to September 21, 2019
Court officer report · 21 September 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 filing6 verified
- cash on handnote: Actual closing bank balance of (316,308) at week ending July 27, 2019, versus forecast of (282,777). · as at: 2019-07-27 · amount: -316308 · currency: CAD · qualifier: closing bank balance (overdrawn)
- disbursementsnote: Total actual disbursements for the 7-week monitoring period, versus forecast of 612,114; not cumulative since the NOI filing. · since: June 9, 2019 (period June 9 to July 27, 2019) · amount: 828903 · currency: CAD
- operational summaryThe debtor continues to operate, with sales higher than forecast, while pursuing refinancing, sale of its building and discussions with seven potential investors (one has withdrawn), with no term sheet received. A viable proposal depends on extending the LBC forbearance agreement, which terminates August 1, 2019.
- professional feesnote: Actual professional fees disbursed in the period versus forecast of 43,625; tax treatment not stated. · party: Professional fees (party not specified in the report) · amount: 39617 · period: June 9 to July 27, 2019 · currency: CAD
- receipts cumulativenote: Total actual receipts for the 7-week monitoring period since the second extension, versus forecast of 493,304; not cumulative since the NOI filing. · since: June 9, 2019 (period June 9 to July 27, 2019) · amount: 676562 · currency: CAD
- report date31 July 2019