Lakelse Air Ltd., Lakelse Helicopters Limited Partnership, 1167537 B.C. Ltd. Lakelse Air
- Proceeding
- Receivership (court-appointed)International interests and Mobile Equipment (Aircraft Equipment) Act, S.C. 2005, c.3
- File
- VLC-S-S-209719
- Industry
- Transportation & logistics · Aviation
Lakelse Air Ltd. has been in court-appointed receivership in the Supreme Court of British Columbia since May 27, 2020, when Canadian Western Bank obtained the appointment of MNP Ltd. as receiver under s. 243 of the BIA, in a proceeding also styled against Lakelse Helicopters Limited Partnership and 1167537 B.C. Ltd. (file VLC-S-S-209719). CWB's security is under the Personal Property Security Act (BC) and the International Interests in Mobile Equipment (Aircraft Equipment) Act. The receiver's Form 87 statement puts CWB's secured claim at $17,411,347.07, Bear Creek Contracting Ltd. at $2,500,000.00 and Ford Credit Canada Limited at a $1.00 placeholder, with Schedule "A" unsecured claims totalling $570,042.45; every property line, including a fleet of 10 helicopters, parts inventory, receivables and the Dease Lake property, is stated as to be determined. A sale was approved on October 23, 2020.
The court granted an approval and vesting order for the sale to Airwork Heli Services (Canada) Limited. Closing terms, as extracted: vesting effective upon delivery of the Receiver's Certificate confirming receipt of purchase price and satisfaction/waiver of closing conditions.
The court granted an approval and vesting order for the sale to Rotor Link Technical Services Inc. Closing terms, as extracted: Vesting occurs upon receipt of cash purchase price and delivery of Receiver's Certificate.
Source: Approval and Vesting Order - Rotor Link Technical Services Inc.
The court granted an approval and vesting order sanctioning a sale of property by the receiver, some five months into the receivership.
On Canadian Western Bank's application, the court appointed MNP Ltd. receiver over property of Lakelse Air Ltd., CWB relying on PPSA (BC) and Cape Town Statute security.
Source: Letter of Appointment
Debtor
Lakelse Air Ltd., Lakelse Helicopters Limited Partnership, 1167537 B.C. Ltd. Lakelse Air
Receiver
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Western Bank · in 83 casesThe Receiver was appointed by Canadian Western Bank pursuant to security under the Personal Property Security Act (BC) and the International Interests in Mobile Equipment (Aircraft Equipment) Act, SC 2005, c.3 (the Cape Town Statute). — Stated under s.245(1)(d) BIA; no valuation date is tied to the figure. — debtor: Lakelse Air Ltd. | $17.4M | Notice of Statement of Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
81 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 plansThis 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.
3 transactions · 3 approvedApproval and Vesting Order - Airwork Heli Services · 23 Oct 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Airwork Heli Services (Canada) Limitedthe Respondents' and the Receiver's right, title and interest in and to the Aircraft as defined in the Purchase Agreement · asset sale · agreement 31 Aug 2020 | Subscribers | Approved23 Oct 2020 | Approval and Vesting Order - Airwork Heli… |
| Heli Holdings Limitedthe Aircraft · asset sale · agreement 31 Aug 2020 | Subscribers | Approved23 Oct 2020 | Approval and Vesting Order - Heli Holdings… |
| Rotor Link Technical Services Inc.the Aircraft as defined in the Purchase Agreement · asset sale · agreement 30 Aug 2020 | Subscribers | Approved23 Oct 2020 | Approval and Vesting Order - Rotor Link… |
Closed · the record states no distribution outcome.
| Date | Document | File |
|---|---|---|
Sale Approval & Vesting Order - Magnoleah Helicopters Inc
| PDF · Subscribers | |
Sale Approval & Vesting Order - Pasedena Helicopters Limited
| PDF · Subscribers | |
Sale Approval & Vesting Order - Rotor Link Technical Services Inc
| PDF · Subscribers | |
Sale Approval & Vesting Order Westcan Aircraft Sales & Salvage Ltd.
| PDF · Subscribers | |
Sale Approval Vesting & Order - Heli Holdings Limited
| PDF · Subscribers | |
Approval and Vesting Order - Airwork Heli Services
| PDF · Subscribers | |
Approval and Vesting Order - Heli Holdings Limited
| PDF · Subscribers | |
Approval and Vesting Order - Rotor Link Technical Services Inc.
| PDF · Subscribers | |
Petition to Court re: Vesting Order Application
| PDF · Subscribers | |
| First Affidavit of Derek Cramm re: Vesting Order Application | PDF · Subscribers | |
Notice of Statement of Receiver
| PDF · Subscribers | |
Letter of Appointment
| 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., “Lakelse Air Ltd., Lakelse Helicopters Limited Partnership, 1167537 B.C. Ltd. Lakelse Air” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/lakelse-air