Quebec · CCAA
First report of the Monitor on the state of the Petitioner’s financial affairs – dated April 11, 2014
Court officer report · 11 April 2014
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
- cash on handnote: As of March 31, 2014 book cash balance (net of outstanding cheques) was $6,800; following rent collections in first week of April, balance increased to $55,000 as of April 4, 2014 · as at: 2014-04-04 · amount: 55000 · currency: CAD
- disbursementsnote: Disbursed to Timbercreek Asset Management representing interest charges on the mortgage loan for the period of March 4 to March 31, 2014, paid from the DIP Loan Funds held in trust · amount: 327796 · currency: CAD
- operational summaryThe Petitioners continue to operate the apartment building in the normal course, collecting rents and pursuing a Lease-Up Program to increase occupancy (currently 60%), while working with CBRE on a solicitation process to sell or refinance the Property.
- report date11 April 2014
- report noFirst Report of the Monitor