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Ligado Networks LLC, et al. - Reports
The following reports have been filed in the proceedings:
 First Report of the Information Officer |
February 7, 2025 |
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The purpose of the First Report of the Information Officer (the "First Report") is to provide information to the Canadian Court with respect to the following: (a) events in the Chapter 11 Cases since the date of the Pre-Filing Report, including:
(i) no unsecured creditors' committee was appointed;
(b) the activities of the Information Officer since the date of the Pre-Filing Report;(ii) the scheduling of a meeting of creditors; (iii) the granting of the Break-Up Compensation Order; (iv) the granting of the Second Day Orders by the U.S. Court; (v) the granting of the Final DIP Order; and (vi) development of the Restructuring Support Agreement (the "RSA") and the Plan; (c) the Information Officer's views regarding the Foreign Representative's application for the Second Supplemental Order and the related amendments to the Supplemental Order (the "Amended Supplemental Order"), among other things, recognizing and enforcing:
(i) Break-Up Compensation Order;
(d) Ligado's actual receipts and disbursements for the 4-week period ended February 2, 2025; and(ii) Final DIP Order; (iii) Final Cash Management Order; (iv) Final Insurance Order; (v) Final Tax Order; (vi) Final Utilities Order; and (vii) Final Wages Order; (e) Ligado's revised and extended cash flow forecast for the 13-week period ending May 4, 2025. | |
| Pre-Filing Report of the Proposed Information Officer |
January 14, 2025 |
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The Pre-Filing Report of the Proposed Information Officer (the "Pre-Filing Report") has been prepared to provide information to the Canadian Court for its consideration in respect of the relief sought by Ligado in the Initial Recognition Order and the Supplemental Recognition Order. In particular, the purpose of this Pre-Filing Report is to inform the Court on the following: (a) the qualifications of FTI Canada to act as Information Officer and an overview of the involvement of FTI Canada and its affiliates with the Debtors to date; (b) certain background information regarding the Debtors and their business, including the Canadian Debtors, a financial overview of the Debtors and their capital structure, employee matters, and other relevant information; (c) the Proposed Information Officer's views regarding the Foreign Representative's application for an Initial Recognition Order; (d) an overview of the proposed restructuring process; (e) the results of the security review; (f) the cash flow forecast for the Canadian Debtors for the 13-week period ending April 4, 2025; (g) the Debtors' cash management system and intercompany transactions; (h) the Proposed Information Officer's views regarding the Foreign Representative's application for the Supplemental Order, among other things:
i. recognizing certain of the First Day Orders:
(i) Foreign Representative Order;
(ii) Interim Cash Management Order; (iii) Joint Administration Order; (iv) Interim Insurance Order; (v) Interim Tax Order; (vi) Interim Utilities Order; (vii) Interim Wages Order; (viii) Omni Retention Order; (ix) Personal Information Redaction Order; and (x) Interim DIP Order;
ii. granting a charge on the Canadian Debtors' property in Canada in favour of Canadian counsel to the Foreign Representative and the Canadian Debtors, the Information Officer, and counsel to the Information Officer (the "Administration Charge"), as security for their respective professional fees and disbursements incurred in respect of these Recognition Proceedings both before and after the date of the proposed Supplemental Order;
(i) the activities of the Proposed Information Officer to date.
iii. granting a charge on the Canadian Debtors' property in Canada in favour of the DIP Lenders to secure the debtor-in-possession ("DIP") financing obligations outstanding from time to time pursuant to the DIP Loan Agreement; and | |
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