In Companies’ Creditors Arrangement Act proceedings involving several related corporate applicants, the court considered a motion for approval of the professional fees and disbursements of the court-appointed monitor and its counsel.
The fees covered the period of the restructuring proceedings following the initial CCAA protection order.
The monitor reported that it had reviewed its counsel’s accounts and considered them fair and reasonable.
No party objected to the requested amounts, and secured noteholders with a direct financial interest did not oppose the requests.
The court approved the monitor’s and its counsel’s fees and disbursements as reasonable in the circumstances.
