Canwest Tanks & Ecological Systems Ltd.

Active

Proceeding: NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
Court: Supreme Court of British Columbia

Filings held19

Last activity13 May 2026

On the record248 days

OverviewSummary updated 9 August 2026

Canwest Tanks & Ecological Systems Ltd. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on January 16, 2026, commencing what the company refers to as the NOI Proceedings. The matter is before the Supreme Court of British Columbia. The proceeding remains active. The record before us contains no steps after commencement: no trustee's reports, no court applications, and no further milestones have been entered.

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Case updates19 dated entries

13 May 2026

#Sale

The court granted an approval and vesting order for the sale to 1574764 B.C. Ltd. Closing terms, as extracted: Extension of closing date by consent; Trustee's Certificate to be delivered and filed upon completion.

Source: Order re Approval and Vesting Order

13 May 2026

#Order

Order re Stay Extension to May 31, 2026 was filed.

Source: Order re Stay Extension to May 31, 2026

12 May 2026

#Report

The officer filed report no. Fourth Report. The Company continued to operate in the ordinary course during the SISP, paying suppliers and employees, while working toward closing a going-concern sale of substantially all its assets to the Successful Bidder.

Source: Fourth Report of the Proposal Trustee

16 earlier updates, back to 16 January 2026 — subscribers.

Parties

Debtor

Canwest Tanks & Ecological Systems Ltd.

Proposal trustee

MNP

Capital structureAs asserted in the filings

Priority class	Creditor	Amount	Source
Secured	The Toronto-Dominion Bank (TD) - Term Loan · in 112 casesas of NOI Filing Date — General security agreement over all assets of the Company — Prose approximates this as '$5.4 million' (para 34), combined with TD Line of Credit for an approximate total of $6.6 million. Guaranteed personally by Jon Eaton (CEO) and by 2J Canyon Ranches Corp (related-party entity) under a Pre-Filing Credit Agreement dated October 3, 2025 (see DIP Agreement recitals, original p.27). — debtor: Canwest Tanks & Ecological Systems Ltd.	$5.43M	First Report of the Proposal Trustee

6 more claims across lower-ranking classes

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Sale processAs stated in the filings

Approval pending — The Proposal Trustee's recommendations to the Court for approval of the Proposed Sale Transaction pursuant to the APAFourth Report of the Proposal Trustee · 12 May 2026

Parties solicited

Third Report of the Proposal Trustee

NDAs signed

Third Report of the Proposal Trustee

Qualified bids

Third Report of the Proposal Trustee

Bid deadline

17 April 2026

Canwest Teaser

Purchaser	Price	Status	Source
1574764 B.C. Ltd.the assets described in the Purchase Agreement (the "Purchased Assets") · asset sale · agreement 16 Apr 2026	Subscribers	Approved13 May 2026outside 22 May 2026	Order re Approval and Vesting Order

AdvisorsMNP Ltd. (sale agent)Canwest Teaser

Closing termsExtension of closing date by consent; Trustee's Certificate to be delivered and filed upon completionOrder re Approval and Vesting Order

RecoveriesAs stated in the filings

Unsecured creditors: no distribution.Notice of Application re Sale Approval · 12 May 2026

Class	Creditor	Claims	Recovery	Basis	Source
Unsecured	the Company's unsecured creditors	—	no distribution	per the proposal trustee	Notice of Application re Sale Approval · 12 May 2026

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.

1 stated figure across 1 outcome, each sourced

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Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Cash on hand

$90.9K

As at 12 May 2026Fourth Report of the Proposal Trustee

1 more reported figure, as at 12 May 2026

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Documents

19 filings

Date	Document	File
31 May 2026	Order re Stay Extension to May 31, 2026 Order date 13 May 2026 Presiding officer Justice G.C. Weatherill	PDF · Subscribers

14 May 2026	Order re Stay Extension to May 14, 2026 Order date 27 March 2026 Presiding officer Justice G.C. Weatherill Stay extended to 14 May 2026	PDF · Subscribers

13 May 2026	Order re Approval and Vesting Order Closing terms Extension of closing date by consent; Trustee's Certificate to be delivered and filed upon completion Order date 13 May 2026 Purchaser 1574764 B.C. Ltd. · the assets described in the Purchase Agreement (the "Purchased Assets") · asset sale · approved Stalking horse Subscribers	PDF · Subscribers

12 May 2026	Fourth Report of the Proposal Trustee Operational summary The Company continued to operate in the ordinary course during the SISP, paying suppliers and employees, while working toward closing a going-concern sale of substantially all its assets to the Successful Bidder. Cash on hand · Disbursements · Financial position Subscribers + 8 more extracted facts	PDF · Subscribers

12 May 2026	Notice of Application re Sale Approval Applicant MNP Ltd., in its capacity as proposal trustee of Canwest Tanks & Ecological Systems Ltd. Court IN THE SUPREME COURT OF BRITISH COLUMBIA Recovery outcome Entries: per unstated; per liquidation_alternative · Table missing:	PDF · Subscribers

30 Mar 2026	Order re Stay Extension to March 30, 2026 Order date 13 February 2026 Stay extended to 30 March 2026	PDF · Subscribers

25 Mar 2026	Third Report of the Proposal Trustee Process results 99 solicited · 7 NDAs · 5 qualified bids · 0 bids · as of 25 Mar 2026 Sale outcome Liquidation in progress — No bids have been submitted since the commencement of marketing on March 9, 2026 Stalking horse Subscribers	PDF · Subscribers

24 Mar 2026	Affidavit #2 of Jon Eaton	PDF · Subscribers

24 Mar 2026	Service List as at March 24 2026	PDF · Subscribers

23 Mar 2026	Affidavit #1 of Cindy Curran	PDF · Subscribers

9 Mar 2026	Canwest Teaser Bid deadline 17 April 2026 Sale advisor MNP Ltd. (sale agent) Sale outcome Sale process approved — Court-approved Sale and Investment Solicitation Process	PDF · Subscribers

25 Feb 2026	Order re Sales and Investment Solicitation Process	PDF · Subscribers

25 Feb 2026	Order re Sales and Investment Solicitation Process Approval Bid deadline 17 April 2026 Order date 25 February 2026 Outside date 22 May 2026 Break fee Subscribers + 3 more extracted facts	PDF · Subscribers

24 Feb 2026	Second Report of the Proposal Trustee Sale outcome Sale process approved — Company sought approval of the proposed SISP to sell the business as a going concern Stalking horse Subscribers	PDF · Subscribers

16 Feb 2026	Certificate of Filing of a Notice of Intention to Make a Proposal	PDF · Subscribers

12 Feb 2026	First Report of the Proposal Trustee Appointee MNP Ltd. Appointee role trustee Commencement date 16 January 2026 Court IN THE SUPREME COURT OF BRITISH COLUMBIA + 4 more extracted facts	PDF · Subscribers

9 Feb 2026	Affidavit #1 of Jon Eaton Financial position · Secured creditors Subscribers	PDF · Subscribers

21 Jan 2026	Creditors Package	PDF · Subscribers

16 Jan 2026	Notice of Intention to Make a Proposal (NOI)	PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Canwest Tanks & Ecological Systems Ltd.” (NOI), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/canwest-tanks-and-ecological-systems-ltd