Neucel Specialty Cellulose Ltd
Follow- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- 20-1138
Neucel Specialty Cellulose Ltd. remains in court-appointed receivership in the Supreme Court of British Columbia, commenced April 15, 2020 under BIA s. 243 and provincial Judicature Act authority. A Statement of Affairs as at April 14, 2020 puts total liabilities at $272,283,522.59 against total assets of $69,904.00, a deficiency of $272,213,618.59, with secured claims of $248,587,680.89 and unsecured claims of $23,625,937.70. The largest claim is Fulida (Canada) Holdings Ltd. at $235,225,500.00, secured by mortgages over several Port Alice parcels registered September 14, 2007 but valued at nil. The Province of British Columbia claims $13,432,081.89 on security over the same Port Alice properties registered April 14, 2020, of which $13,362,177.89 is carried as unsecured. Unifor Local 514 claims $21,368,000.00, the Village of Port Alice $1,819,283.29, BC Hydro $388,277.04 and the Employment Standards Branch $50,377.37 in wages.
A claims procedure has been established — see the order for deadlines.
43 earlier updates, back to 15 April 2020 — subscribers.
Debtor
Neucel Specialty Cellulose Ltd
Receiver
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Fitzpatrick | Supreme Court of British Columbia | 4 orders, Apr 2020 – May 2026 | 49 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverPwC | Fasken Martineau DuMoulin LLP | 21 Apr 2020 | Service list · 21 Apr 2020 |
| CreditorBritish Columbia Hydro and Power Authority | Innovative Legal Solutions LLP | 21 Apr 2020 | Service list · 21 Apr 2020 |
| CreditorUnifor Local 514 | Ministry of Attorney General, Legal Services | 21 Apr 2020 | Service list · 21 Apr 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Fulida (Canada) Holdings Ltd.Real property/immovable mortgages over multiple Port Alice parcels (#306, 791 Marine Drive; 200 Totem Way; 300 Totem Way; 930 Marine Drive x3; Industrial Way), registered 14-Sep-2007 — Estimated value of security stated as $0.00 for each parcel per List B; estimated surplus from security $235,225,500.00 recorded in totals column - likely a balance figure carried to total; unsecured List A also shows balance of claim $235,225,500.00 for same creditor. — debtor: Neucel Specialty Cellulose Ltd. · as of 14 Apr 2020 | $235M | Form 78 - Statement of Affairs (includes list of creditors) |
Approval pending — Receiver seeking approval of the Condo sale and vesting orderReceiver's 2nd Report to Court · 13 May 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Sharon Emily Spiterithe Condo · real property · agreement 22 Mar 2021 | Subscribers | Proposed | Receiver's 2nd Report to Court |
Unsecured creditors: no distribution. Bank of China (Canada) paid in full.Trustees First Report to Court · 27 May 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Bank of China (Canada) | — | paid in full | Finalper the trustee | Trustees First Report to Court · 27 May 2025 |
| Unsecured | — | — | no distribution | per the trustee | Trustees First Report to Court · 27 May 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.
7 engagements · 1 firm — latest: PricewaterhouseCoopers Inc., 1 May 2025 – 31 Mar 2026Trustee's Second Report to Court · 14 May 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| PricewaterhouseCoopers Inc.Trusteeperiod 7 of 7 | to 31 Mar 2026 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 7 of 7 | 1 May 2025 – 31 Mar 2026 | — | — | — | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 5 of 7 | to 30 Sep 2025 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 4 of 7 | to 31 Aug 2025 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 3 of 7 | to 31 Jul 2025 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 2 of 7 | to 30 Jun 2025 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
| PricewaterhouseCoopers Inc.Trusteeperiod 1 of 7 | to 31 May 2025 | — | — | —2 people | Trustee's Second Report to Court · 14 May 2026 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Professional fees to date
$5.14K
As at 14 May 2026Trustee's Second Report to Court
| Date | Document | File |
|---|---|---|
Order (Approval of Trustee's Accounts)
| PDF · Subscribers | |
| Order (Increase Receiver's Borrowing and Appoval of Activities and Fees) | PDF · Subscribers | |
| Affidavit #7 of Fergus McDonnell sworn May 19, 2026 | PDF · Subscribers | |
| Notice of Application filed May 15, 2026 for Increase in Borrowings and Approval of Receiver's Activities and Fees | PDF · Subscribers | |
| Notice of Application filed May 15, 2026 to Approve Trustee's Accounts | PDF · Subscribers | |
Receiver's 8th Report to Court
| PDF · Subscribers | |
Trustee's Second Report to Court
| PDF · Subscribers | |
| Affidavit #5 of F. McDonnell filed May 28, 2025 | PDF · Subscribers | |
| Notice of Application filed May 28, 2025 for Increase in Borrowings and Approval of Activities and Fees | PDF · Subscribers | |
| Notice of Application filed May 28, 2025 to Approve Trustee's Accounts | PDF · Subscribers | |
| Receiver's 7th Report to the Court | PDF · Subscribers | |
Trustees First Report to Court
| PDF · Subscribers | |
| Order (Borrowing Charge, Receiver's Fees) | PDF · Subscribers | |
| Affidavit #4 of Fergus McDonnell filed May 30, 2024 | PDF · Subscribers | |
| Notice of Application filed May 30, 2024 | PDF · Subscribers | |
| Receiver's 6th Report to Court | PDF · Subscribers | |
Order (Borrowing Charge
| PDF · Subscribers | |
| Notice of Application filed March 27, 2024 | PDF · Subscribers | |
| Receiver's 5th Report to Court | PDF · Subscribers | |
| Affidavit #3 of Fergus McDonnell filed May 5, 2023 | PDF · Subscribers | |
| Notice of Application filed May 5, 2023 | PDF · Subscribers | |
| Receiver's 4th Report to Court | PDF · Subscribers | |
| Notice of Application returnable May 10, 2022 | PDF · Subscribers | |
| Affidavit #2 of Fergus McDonnell filed May 3, 2022 | PDF · Subscribers | |
| Receiver's 3rd Report to Court | PDF · Subscribers | |
| Notice of Application returnable May 21, 2021 | PDF · Subscribers | |
| Order (Sale Approval and Vesting Order) | PDF · Subscribers | |
| Affidavit #1 of Fergus McDonnell filed May 17, 2021 | PDF · Subscribers | |
Receiver's 2nd Report to Court
| PDF · Subscribers | |
| Order Made After Application (Increase in Receiver Borrowings) | PDF · Subscribers | |
| Application Record Returnable September 24, 2020 | PDF · Subscribers | |
| Notice of Application returnable September 24, 2020 | PDF · Subscribers | |
| Receiver's 1st Report to Court | PDF · Subscribers | |
Trustee's Preliminary Report to Creditors
| PDF · Subscribers | |
| Form 74 - Reclamation of Property | PDF · Subscribers | |
| Notice and Statement of Receiver | PDF · Subscribers | |
Certificate of Filing from the Office of the Superintendent of Bankruptcy
| PDF · Subscribers | |
| Form 68 - Notice of Bankruptcy & First Meeting of Creditors | PDF · Subscribers | |
Form 78 - Statement of Affairs (includes list of creditors)
| PDF · Subscribers | |
| Proof of claim & Proxy | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Bankruptcy Order
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit #1 of K. Butterworth filed April 3, 2020 | PDF · Subscribers | |
| Affidavit #1 of S. Raskovsky filed April 3, 2020 | PDF · Subscribers | |
| Petition to the Court filed April 3, 2020 | 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., “Neucel Specialty Cellulose Ltd” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/neucel-specialty-cellulose-ltd