Alberta · CCAA
Monitor's Second Report, dated and filed May 10, 2019.pdf
Court officer report · 10 May 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 filing8 verified
- cash on handnote: Actual ending cash as of May 5, 2019, compared to $107,214 projected. · as at: 2019-05-05 · amount: 192633 · currency: CAD
- disbursementsnote: Actual operating and restructuring-related disbursements for the period March 18, 2019 to May 5, 2019. · since: March 18, 2019 · amount: 1277346 · currency: CAD
- financial positionnote: Marketing teaser states assets comprised of Property and equipment NBV $2.0MM and Intangible assets NBV $14.4MM as at September 30, 2018; no liabilities figure stated. · as at: 2018-09-30 · basis: book value (NBV) · scope: entity - Divestco Inc. · currency: CAD · total assets: 16400000
- operational summaryDivestco is conducting a sales solicitation process resulting in a stalking horse transaction as the successful bid, while reducing headcount and disclaiming office leases to cut costs amid ongoing CCAA restructuring.
- professional feesnote: Restructuring costs estimated at $475,000 includes costs of the Company's counsel, Monitor and Monitor's counsel costs and the Financial Advisor costs; this is a forecast figure, not actual fees incurred. · party: Company's counsel, Monitor and Monitor's counsel, and Financial Advisor · amount: 475000 · period: May 6, 2019 to June 16, 2019 (estimated) · currency: CAD
- receipts cumulativenote: Actual AR collections from customers for the period March 18, 2019 to May 5, 2019. · since: March 18, 2019 · amount: 613027 · currency: CAD
- report date10 May 2019
- report noMonitor's Second Report