Microb Resources Inc. o/a Salt Spring Coffee
Follow- Proceeding
- NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- B-250002
- Industry
- Manufacturing · Food & beverage manufacturing
Microb Resources Inc., operating as Salt Spring Coffee, filed a notice of intention to make a proposal under s. 50.4 of the BIA on January 2, 2025. As at that date, assets were reported at $3,505,316 in book value against liabilities of $5,932,377. Maynbridge Capital Inc. holds a first-ranking general security agreement over all assets, having taken assignment of the RBC loan and security on December 2, 2024, and is owed approximately $2,230,000; it is also DIP lender under a court-ordered super-priority charge of up to $250,000. BDC is owed approximately $1,196,228 and Bodkin approximately $29,240.89. A proposed transaction would sell to Caffe & Roasters Holdings Inc., under ultimate common ownership with Maynbridge; Bodkin supports it, BDC does not.
Microb Resources Inc. o/a Salt Spring Coffee — NOI filed, British Columbia.
Source: NOI Certificate
Debtor
Microb Resources Inc. o/a Salt Spring Coffee
Proposal trustee
KPMG
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeKPMG | McCarthy Tétrault LLP | 8 Jan 2025 | Service list · 8 Jan 2025 |
| ApplicantMicrob Resources Inc. o/a Salt Spring Coffee | Osler, Hoskin & Harcourt LLP | 8 Jan 2025 | Service list · 8 Jan 2025 |
| CreditorBC Turf Ltd | Lindsay Kenney LLP | 30 Jan 2025 | Service list · 30 Jan 2025 |
| CreditorBusiness Development | Lindsay Kenney LLP | 17 Jan 2025 | Service list · 17 Jan 2025 |
| CreditorClub Coffee LP | Nathanson Schachter & Thompson LLP | 8 Jan 2025 | Service list · 8 Jan 2025 |
| CreditorIntercontinental Coffee Trading LLC BODKIN, a Division of Bennington | Blake, Cassels & Graydon LLP | 17 Jan 2025 | Service list · 17 Jan 2025 |
| CreditorMaynbridge Capital Inc | Borden Ladner Gervais LLP | 8 Jan 2025 | Service list · 8 Jan 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Maynbridge Capital Inc. · in 6 casesFirst-ranking general security agreement over all of SSC's assets (assigned from the RBC Loan on December 2, 2024); also DIP Lender under a separate court-ordered super-priority charge up to $250,000 — Related party: the Purchaser (Caffe & Roasters Holdings Inc.) is owned by Artigiano Holdings, which has ultimate common ownership with Maynbridge. Prose approximation in para 30 states advances of $564,647.40 as of the Filing Date (a different, smaller advance figure than the total facility balance). Under the APA, 'Total Maynbridge Debt' (facility plus DIP financing) is stated as $2,545,000. — · as of 6 Jan 2025 | $2.24M | First Report of the Proposal Trustee |
| Secured | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 1 proposed · 1 closed — Approval and vesting order granted approving the APA and TransactionSSC Entered Order - Sale Approval and Admin Charge · 16 Jan 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Caffe & Roasters Holdings Inc.the Purchased Assets · asset sale · nominee/assignee: its assignee · agreement 2 Jan 2025 | Subscribers | Proposed | First Report of the Proposal Trustee |
| Caffe & Roaster Holdings Inc.the Purchased Assets described in the APA · asset sale · nominee/assignee: assignee of Caffe & Roaster Holdings Inc.'s interest under the APA · agreement 2 Jan 2025 | Subscribers | Closed31 Jan 2025 | Trustee's Certificate |
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report - Microb Resources Inc (FINAL) · 19 Feb 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report - Microb Resources Inc (FINAL) · 19 Feb 2025 |
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.
As at ·
The 2 totals 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 |
|---|---|---|
Microb Resources Inc. - Bankruptcy Creditors Package
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Trustee's Certificate
| PDF · Subscribers | |
Service List – dated 2025-01-30
| PDF · Subscribers | |
Service List – dated 2025-01-17
| PDF · Subscribers | |
SSC Entered Order - Sale Approval and Admin Charge
| PDF · Subscribers | |
| 2nd McLeod Affidavit - Filed | PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Microb 13 Week Cash Flow Executed | PDF · Subscribers | |
| Microb Creditors Package | PDF · Subscribers | |
Microb Notice of Application
| PDF · Subscribers | |
Affidavit of Norman McLeod
| PDF · Subscribers | |
| NOI Certificate | PDF · Subscribers | |
Trustee's Preliminary Report - Microb Resources Inc (FINAL)
| 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., “Microb Resources Inc. o/a Salt Spring Coffee” (NOI), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/microb-resources-inc-o-a-salt-spring-coffee