CanWest Aerospace Inc.

#Report

The officer filed report no. Eighth Report. The Petitioners' business was sold pursuant to a court-approved SPA, but the purchaser failed to close; RBC then obtained appointment of a receiver, which has since closed a sale of the Petitioners' assets and is seeking a distribution order and its discharge.

Source: Eighth Report of the Monitor

#Filing

Affidavit #1 of Colin Brousson — Affidavit

#Filing

Affidavit #1 of Dannis Yang — Affidavit

#Filing

Notice of Application — Application / notice of application

29 Aug 2023

#Order

The court appointed Deloitte Restructuring Inc. as Receiver and Receiver and Manager, on the application of Royal Bank of Canada. Court file S-230764.

Source: Receivership Order

24 Aug 2023

#Filing

Affidavit #3 of Mark Kemp-Gee — Affidavit

24 Aug 2023

#Filing

Requisition to re-set hearing to August 29, 2023 — Application / notice of application

6 Jul 2023

#Sale

The court granted an approval and vesting order for the sale to MAR ONE Aviation, L.L.C. Closing terms, as extracted: Vesting occurs upon delivery by the Monitor to the Purchaser of the Monitor's Certificate confirming completion of the Share Purchase Transaction.

Source: Approval and Vesting Order

5 Jul 2023

#Report

The officer filed report no. Seventh Report. CanWest continues limited operations amid ongoing disruption from missing inventory/equipment stolen from its former Langley premises, which has hurt revenues and liquidity; the company is pursuing closing of a share purchase agreement and implementation of a plan of arrangement.

Source: Seventh Report of the Monitor

26 Jun 2023

#Report

The officer filed report no. Sixth Report. The report covers a creditor meeting held to vote on the Plan of Compromise and Arrangement, which was accepted by both secured and unsecured creditor classes; the Monitor now recommends Court approval of the Plan.

Source: Sixth Report of the Monitor

21 Jun 2023

#Filing

First Amended and Restated Plan of Compromise and Arrangement — Plan of arrangement / compromise

19 Jun 2023

#Order

Stay Extension Order — Order (other)

18 Jun 2023

#Report

The officer filed report no. Fifth Report. The Petitioners vacated the Langley Premises by May 31, 2023 amid disruptions from theft-affected inventory and relocation, negatively impacting sales and cash flow, while continuing limited operations and pursuing an Amended Plan of compromise with creditors.

Source: Fifth Report of the Monitor

16 Jun 2023

#Report

Monitor's Report on the Proposal — Court officer report

16 Jun 2023

#Claims

Notice of Creditors Meeting, Meeting Protocol, Proxy, and Plan Resolution — Meeting materials

15 Jun 2023

#Claims

Notice to Creditors - CWA re meeting postponement June 15, 2023 — Notice to creditors

9 Jun 2023

#Claims

Notice to Creditors - CWA re meeting postponement — Notice to creditors

6 Jun 2023

#Order

Sanction Order — Plan sanction / final order

17 May 2023

#Filing

Service List — Service list

#Filing

Affidavit #5 of Thomas Jackson — Affidavit

#Order

Order (Access to Langley Premises) — Order (other)

#Order

Order (Return of Property) — Order (other)

#Order

Order for Increase in the Administration Charge — Order (other)

#Report

Claims Instruction Letter — Stakeholder communication

#Claims

Claims Order Process — Claims procedure order

#Claims

Claims Process Notice — Notice to creditors

#Claims

Notice of Dispute — Notice of dispute (claims)

#Claims

Notice of Revision or Disallowance — Notice of dispute (claims)

#Claims

Proof of Claim Form — Proof of claim (blank form)

#Report

The officer filed report no. Supplement to the Fourth Report of the Monitor. The Monitor provided a revised cash flow forecast for CanWest covering May 1 to June 25, 2023, reflecting continued orderly liquidation of inventory and parts sales.

Source: Suppliment to the Fourth Report of the Monitor

#Claims

Claims Process Order — Claims procedure order

#Claims

Meeting and Process Order — Meeting order

#Order

Order For Extension of Stay, Increase in the Administration Charge, and Payment of Deposit — Order (other)

#Filing

Plan of Compromise and Arrangement — Plan of arrangement / compromise

3 May 2023

#Report

The officer filed report no. Fourth Report. The Petitioners continue limited operations amid a dispute over access to their Langley premise and parts inventory, while pursuing a share purchase sale to MAR ONE Aviation and a plan of arrangement to distribute proceeds to creditors.

Source: Fourth Report of the Monitor

1 May 2023

#Filing

Affidavit #4 of Thomas Jackson — Affidavit

24 Apr 2023

#Order

Order (Approval of SPA and Extension of Stay) — Order (other)

23 Apr 2023

#Report

The officer filed report no. Third Report. CanWest continues limited operations amid a compressed sale process, facing disruption from a landlord dispute over its Langley hangar, resource constraints, and sales falling well short of forecast, while pursuing a share sale to MAR ONE Aviation.

Source: Third Report of the Monitor

13 Apr 2023

#Order

Stay Extention Order — Order (other)

4 Apr 2023

#Report

The officer filed report no. Second Report of the Monitor. The Petitioners' Langley hangar was locked out by the landlord and its electronic file server disabled, temporarily impairing operations and access to financial records, while limited work continues at the Abbotsford facility; the Monitor views this combined with a negative cash flow variance as a material adverse change.

Source: Second Report of the Monitor

17 Mar 2023

#Order

Amended and Restated Initial Order — Amended and restated initial order

16 Mar 2023

#Report

The officer filed report no. First Report. The Petitioners continue limited operations focused on completing work-in-progress and certain Bangladesh contracts to generate cash for RBC, with tightened credit terms, no updated inventory count, and management under significant strain, while pursuing a sale and investment solicitation process and a stay extension.

Source: First Report of the Monitor

#Filing

Affidavit #2 of Mark Kemp-Gee — Affidavit

#Filing

Affidavit #3 of Thomas Jackson — Affidavit

#Claims

Creditor List — List of creditors

#Claims

Notice to Creditors — Notice to creditors

8 Mar 2023

#Order

Initial order granted to Canwest Aerospace Inc. and Canwest Global Airparts Inc. under the CCAA, appointing FTI Consulting Canada Inc. as Monitor.

Source: Initial Order

6 Mar 2023

#Filing

Affidavit #1 of Mark Kemp-Gee — Affidavit

6 Mar 2023

#Filing

Affidavit #2 of Thomas Jackson — Affidavit

24 Feb 2023

#Filing

Affidavit #1 of Thomas Jackson — Affidavit

What to do when a company that owes you money goes bankrupt in Canada

AnalysisAll insights⁠

Guide

When a Canadian company that owes you money goes bankrupt or into creditor protection, what you actually get back is usually a fraction of the debt, often nothing, and only if your claim is in on time. How to find the case, file a claim, meet a bar date, vote on a plan, take back goods and get paid, drawn from the court record.

10 October 2026

Parties

Debtor

CanWest Aerospace Inc.

Monitor

FTI

Bench and counselPer the orders and service lists on the record

Bench

Judge	Court	On this docket	Cases on record
Justice Gomery	Supreme Court of British Columbia	6 orders, Mar 2023 – Aug 2023	7 cases on record
Justice Fitzpatrick	Supreme Court of British Columbia	6 orders, May 2023	60 cases on record

Counsel of record

Party	Counsel	First seen	Source
MonitorFTI	DLA Piper (Canada) LLP	17 May 2023	Service list · 17 May 2023
ApplicantCanWest Aerospace Inc.	Clark Wilson LLP	17 May 2023	Service list · 17 May 2023
CreditorBusiness Development Bank of Canada	Kornfeld LLP	17 May 2023	Service list · 17 May 2023
CreditorHelo Investments Ltd	Clark Wilson LLP	9 May 2023	Order · 9 May 2023
CreditorRoyal Bank of Canada	Dentons Canada LLP	17 May 2023	Service list · 17 May 2023

Capital structureAs asserted in the filings

stated amounts, drawn to scale · for subscribers

#	Priority class	Creditor	Amount	Source
4	Secured	Royal Bank of Canada · in 584 casesFrom Creditor Listing as at March 8, 2023; security details not specified in this document. — debtor: CanWest Aerospace Inc. and Can West Global Airparts Inc. · as of 8 Mar 2023	$3.9M	Creditor List
4	Secured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured
8	Unsecured

97 more claims in 2 classes The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings

2 transactions · 1 not completed · 1 closed — Original SPA purchaser failed to close; receiver appointed and has now closed a sale of the Petitioners' assetsEighth Report of the Monitor · 13 Dec 2024

Purchaser	Price	Status	Source
MAR ONE Aviation, L.L.C.Purchased Assets described in the Share Purchase Agreement · share sale · agreement 23 Apr 2023	Subscribers	Not completeddate not stated	Eighth Report of the Monitor
purchaser of the Petitioners' assets in the receiver's sale, unnamedthe Petitioners' assets · asset sale	not stated	Closeddate not stated	Eighth Report of the Monitor

Closing termsVesting occurs upon delivery by the Monitor to the Purchaser of the Monitor's Certificate confirming completion of the Share Purchase TransactionApproval and Vesting Order

RecoveriesAs stated in the filings

Unsecured creditors: a distribution. Crown paid in full · BDC a distribution · Royal Bank of Canada short.EstimatedSixth Report of the Monitor · 16 Jun 2023

Class	Creditor	Claims	Recovery	Basis	Source
Deemed trust	Crown	—	paid in full	Under the plansanctionedper the debtor	Plan of Compromise and Arrangement · 4 May 2023
Secured	—	—	a distributionconditional	Under the plansanctionedper the debtor	Plan of Compromise and Arrangement · 4 May 2023
Secured	BDC	—		Under the plansanctionedper the monitor	Monitor's Report on the Proposal · 16 Jun 2023
Secured	Royal Bank of Canada	listed	short by	—	Sixth Report of the Monitor · 16 Jun 2023
Unsecured	—	—	of proven claims	Estimatedper the monitor	Sixth Report of the Monitor · 16 Jun 2023

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

4 blurred figures above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Affidavit #1 of Colin Brousson · 13 Dec 2024

Fees and ratesAs stated in the filings

8 engagements · 4 firms — latest: DLA Piper (Canada) LLP, 16 Mar 2023 – 31 Aug 2024, in feesAffidavit #1 of Dannis Yang · 13 Dec 2024

Firm

Period

Hours

Fees

Rates

Source

Clark Wilson LLPCounsel to the debtor

—

not stated

DLA Piper (Canada) LLPCounsel to the monitorperiod 2 of 2

16 Mar 2023 – 31 Aug 2024

4 people

Affidavit #1 of Dannis Yang · 13 Dec 2024

4 people — DLA Piper (Canada) LLP, 16 Mar 2023 – 31 Aug 2024 · 9 blurred figures

Name	Title	Rate	Fees
Colin D. Brousson	—		—
Jeffrey D. Bradshaw	—		—
Samantha Arbor	—		—
Dannis Yang	—		—
Total:	—	—	—

DLA Piper (Canada) LLPCounsel to the monitorperiod 1 of 2

16 Mar 2023 – 31 May 2024

3 people

Affidavit #1 of Colin Brousson · 13 Dec 2024

3 people — DLA Piper (Canada) LLP, 16 Mar 2023 – 31 May 2024 · 7 blurred figures

Name	Title	Rate	Fees
Colin D. Brousson	—		—
Samantha Arbor	—		—
Dannis Yang	—		—
Total:	—	—	—

FTI Consulting Canada Inc.Monitorperiod 4 of 4

1 Mar 2023 – 30 Jun 2024

not stated

FTI Consulting Canada Inc.Monitorperiod 3 of 4

to 30 Apr 2023

3 people

3 people — FTI Consulting Canada Inc., to 30 Apr 2023 · 9 blurred figures

Name	Title	Hours	Rate	Fees
Craig Munro	Managing Director
Huw Parks	Consultant
Kathleen Foster	Executive Assistant II

FTI Consulting Canada Inc.Monitorperiod 2 of 4

to 31 Mar 2023

5 people

Affidavit #1 of Colin Brousson · 13 Dec 2024

5 people — FTI Consulting Canada Inc., to 31 Mar 2023 · 17 blurred figures

Name	Title	Rate
Craig Munro	Managing Director
Michael Clark	Senior Director
Hailey Liu	Senior Consultant
Huw Parks	Consultant
Caitlin Moreland	Receptionist
Total Hours and Fees	—	—

FTI Consulting Canada Inc.Monitorperiod 1 of 4

—

not stated

Monitor's legal counselCounsel to the monitorfirm not named in the heading

1 Mar 2023 – 30 Jun 2024

—

not stated

59 blurred figures above

What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.

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Estate financialsReported figures — never derived

Cash on hand

$14K

As at 2 Jul 2023Seventh Report of the Monitor

Professional fees

As at

1 more reported figure

Each one as the filing states it, with its source.

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