BECC Construction Inc., Dali Drywall Ltd., 2737566 Ontario Inc., and Massive Devcon Corporation

BECC Construction Inc., Dali Drywall Ltd., 2737566 Ontario Inc. and Massive Devcon Corporation were placed in court-appointed receivership on May 29, 2025 under s. 243 of the BIA, following Royal Bank of Canada's March 11, 2025 demand for indebtedness of $4,374,836.14. The Receiver estimates RBC's secured debt at $7,438,688 as at the July 3, 2025 appointment date, exclusive of fees, costs and interest, supported by general security agreements over all present and after-acquired property and lease facilities secured against equipment at the Ancaster premises. Book assets of BECC, Dali and 273 total $8,162,396 against combined liabilities of $14,970,302 for all four debtors; Massive Devcon's records were unavailable beyond 2023. Most accounts receivable are disputed and collectability is highly questionable. CRA asserts deemed trust claims of $554,849 against Dali for HST and $295,555 against BECC for source deductions, ranking or potentially ranking ahead of RBC. Western Surety Company claims in excess of $8 million but has advised it holds no collateral. An independent security opinion from BLG remains pending.