Five Star Charters Ltd. was placed in receivership on March 11, 2026, when the Supreme Court of British Columbia appointed Crowe MacKay & Company Ltd. receiver on the application of the Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act. The bank is owed $869,249.33 as at the date of judgment, outstanding in full, under marine loan agreements dated April 21, 2017 and April 25, 2017 secured by marine mortgages on the vessels SuperCat and Kuluta, a general security agreement over all present and after-acquired personal property and a purchase money security interest against each vessel. The proceeding is active under court file VIC-S-S-2512623.
The court granted an approval and vesting order for the sale to Bridgeview Marine Ltd. Closing terms, as extracted: Closing is seven business days after court approval of the Offer, or another date the parties agree; vesting occurs upon delivery of the Receiver's Certificate.
The Supreme Court of British Columbia appointed Crowe MacKay & Company Ltd. receiver of Five Star Charters Ltd. on March 11, 2026, on the Business Development Bank of Canada's application.
Debtor
Five Star Charters Ltd.
Receiver
Crowe MacKay
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada · in 251 casesMarine mortgages on SuperCat and Kuluta vessels (Marine Loan Agreements dated April 21, 2017 and April 25, 2017); General Security Agreement dated April 21, 2017 over all present and after-acquired personal property, plus purchase money security interest against each vessel — Amount owing as at date of judgment (March 11, 2026), remains outstanding in full — debtor: Five Star Charters Ltd. · as of 11 Mar 2026 | $869K | Receiver's First Report to Court dated August 10, 2026 |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approved — The Court approved the sale of the Vessels to Bridgeview Marine Ltd.; vesting is subject to delivery of the Receiver's Certificate.Entered Order dated August 21, 2026 · 21 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Bridgeview Marine Ltd.the vessels named Five Star Supercat (Registered Number: 819981) and Kuluta (Registered Number: 829020), with all ancillary equipment, machinery and engines on board · asset sale · agreement 15 May 2026 | Subscribers | Approved21 Aug 2026 | Entered Order dated August 21, 2026 |
| Date | Document | File |
|---|---|---|
Entered Order dated August 21, 2026
| PDF · Subscribers | |
Notice of Application dated August 10, 2026
| PDF · Subscribers | |
Receiver's First Report to Court dated August 10, 2026
| PDF · Subscribers | |
Call for Offers
| PDF · Subscribers | |
Entered Receivership Order, dated March 11, 2026
| PDF · Subscribers | |
| Affidavit #1 of Dannis Yang, dated February 27, 2026 | PDF · Subscribers | |
Notice of Application dated, February 27, 2026
| PDF · Subscribers | |
| Affidavit #1 of Ian Fong, dated February 25, 2026 | PDF · Subscribers | |
| Affidavit #2 of Ian Fong, dated February 25, 2026 | 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., “Five Star Charters Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/five-star-charters-ltd
Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/five-star-charters-ltd
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.