Today we attended in Court with respect to an application to extend the stay of proceedings to and including October 8, 2009. Essentially the Monitor has not completed its report, and requires more time to do so. Given the short amount of time, we supported the extension and the Court agreed, extending the stay of proceedings to Thursday, October 8, 2009 before Mr. Justice LoVecchio. We also advised the Court that we had requested a shareholder registry for each project company, and that if necessary we would bring an application in this regard. The Monitor's counsel advised the Court that these lists were "in the works".
In addition, the application by certain mortgagees to lift the stay was adjourned by consent to October 8, 2009 at 9 am, when the next hearing will take place. The Court has booked one half a day for ths next hearing, at which point we will be will have a more complete Monitor's report, as well as further details concerning the proposed establishment of a stakeholder committee.
** This has not been emailed out, but will be sent out as soon as my Mac is back up and running early next week. **
