Eagle Graphite Corporation
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-234515
Eagle Graphite Corporation has been in court-appointed receivership in British Columbia since July 20, 2023, when Madam Justice Fitzpatrick of the Supreme Court of British Columbia appointed FTI Consulting Canada Inc. as receiver on the application of Weaver Capital Corp., under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act (court file S-234515). The receiver's notice and statement approximates the debtor's assets at C$417,076 as at the date of appointment, against secured claims of approximately C$3.42 million and unsecured claims of approximately C$1.83 million. The largest secured claim is Weaver Capital's, at C$3,358,930; Wood I Company is listed at C$60,000. Eagle Graphite Incorporated, a similarly named entity identified as a possible related party, heads the unsecured list at C$1,367,221. The proceeding remains active.
The court granted an approval and vesting order for the sale to Weaver Capital Corp. Closing terms, as extracted: Closing to occur within five business days of the date of this Order or as otherwise agreed; certificate delivery triggers vesting; vacant possession delivered at 12:00 noon on Closing Date.
Source: Approval and Vesting Order
The officer filed report no. Third Report. The receiver conducted a sale process for the mining assets of Eagle Graphite Corporation, which had ceased production since around 2013, ultimately obtaining Weaver's credit-bid offer as the successful bid after a prior purchaser defaulted.
Source: Third Report of the Receiver
The officer filed report no. Second Report. Eagle Graphite's mining operations at the Black Crystal site have been dormant since around 2013, and the Receiver has been focused on running a sale process to sell the company's assets rather than any ongoing production.
Source: Second Report of the Receiver
The court approved a sale and investment solicitation process. A bid deadline of 2023-09-25.
Source: Order (Sale Procedure, Stalking Horse Agreement and Approval of Receiver's Report)
Madam Justice Fitzpatrick appointed FTI Consulting Canada Inc. receiver of Eagle Graphite Corporation on Weaver Capital Corp.'s application, under s. 243(1) BIA and s. 39 of the Law and Equity Act.
Source: Receivership Order
Debtor
Eagle Graphite Corporation
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Whately | Supreme Court of British Columbia | 1 order, Mar 2024 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | DLA Piper (Canada) LLP | 23 Oct 2023 | Service list · 23 Oct 2023 |
| DebtorEagle Graphite Corporation | Cassels Brock & Blackwell LLP | 23 Oct 2023 | Service list · 23 Oct 2023 |
| CreditorWeaver Capital Corp | Clark Wilson LLP | 23 Oct 2023 | Service list · 23 Oct 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Weaver CapitalNotice and Statement (p.3) approximates claim at US$2,600 thousand; Schedule A (p.4) states exact figure of C$3,358,930 as at July 20, 2023, USD converted to CAD using Bank of Canada rate on that date. — debtor: Eagle Graphite Corporation · as of 20 Jul 2023 | $3.36M | Notice to Creditors |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
10 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans4 transactions · 2 not completed · 1 proposed · 1 closed — Sale transaction approved and vesting order grantedApproval and Vesting Order · 28 Mar 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1420027 B.C. Ltd.all of the right, title and interest in the assets of EG · asset sale | Subscribers | Proposed | Second Report of the Receiver |
| Weaver Capital Corp.the property, assets and undertakings of the Debtor including the processing facility and equipment, mineral leases and mineral claims as defined in the Stalking Horse APS (the "Property" or "Purchased Assets") · auction · agreement 10 Aug 2023 | Subscribers | Not completed | Second Report of the Receiver |
| referred to as '142' in the report; a prior bidder whose transaction did not closethe Purchased Assets of EGC · asset sale | not stated | Not completed | Third Report of the Receiver |
| Weaver Capital Corp.all of the Debtor's right, title and interest in and to the Purchased Assets described in the Sale Agreement and listed on Schedule "C" hereto · asset sale · agreement 4 Mar 2024 | Subscribers | Closed3 Apr 2024 | Receiver's Certificate |
As at ·
Cumulative receipts
$761K
As at 27 Feb 2024Third Report of the Receiver
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Receiver's Certificate
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Notice of Application
| PDF · Subscribers | |
Third Report of the Receiver
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Order (Sale Procedure, Stalking Horse Agreement and Approval of Receiver's Report)
| PDF · Subscribers | |
| First Report of the Receiver | PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Receivership Order
| 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., “Eagle Graphite Corporation” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/eagle-graphite-corporation