British Columbia · CCAA
Fourteenth Report of the Monitor
Court officer report · 25 August 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 filing8 verified
- cash on handnote: Combined total of cash and guaranteed investment certificates held in the Monitor's trust accounts; the budget-vs-actual table shows a closing balance of $38,286 thousand as at August 17, 2025. · as at: 2025-08-10 · amount: 38300000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total operating disbursements; CCAA disbursements (professional fees etc.) of $1,403 thousand are reported separately. · since: April 14, 2025 (start of the Reporting Period, to August 17, 2025) · amount: 1105000 · currency: CAD
- operational summarySubstantially all assets have been sold, the Transaction closed July 24, 2025, and all employees have been terminated, with some retained as contractors to help wind up. Remaining matters are concluding the Claims Process and distributing remaining funds, so the Monitor seeks to transition to receivership and be discharged.
- professional feesnote: Actual professional fees paid during the Reporting Period, $886,000 higher than forecast. The Fifth Cash Flow Forecast projects a further approximately $1.2 million ($1,191 thousand) in professional fees for August 18 to November 28, 2025. Tax treatment not stated. · party: Monitor, Fasken, NRF and counsel for the current members' representative (combined) · amount: 1431000 · period: 2025-04-14 to 2025-08-17 · currency: CAD
- receipts cumulativenote: Total operating receipts excluding asset sale proceeds; asset sales of $22,858 thousand (Transaction proceeds of $22.9 million) are reported separately as other receipts. · since: April 14, 2025 (start of the Reporting Period, to August 17, 2025) · amount: 373000 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The quantum of the first distribution is expected to be $21.9 million, representing payments in full to settle all Proven Claims (as defined in the Monitor's Fourteenth Report) as at August 22, 2025. · pct of: unstated · outcome: paid_in_full · currency: CAD · class key: unsecured · stated by: monitor · amount low: 21900000 · amount high: 21900000 · class label: Proven Claims · interim final: unstated · currency quote: $CAD · claims qualifier: proven · stated on: 2025-08-25 · table missing:
- report date25 August 2025
- report noFourteenth Report