Prendiville Industries Ltd. has been in court-appointed receivership since May 25, 2020, when Canadian Imperial Bank of Commerce applied under section 243(1) of the Bankruptcy and Insolvency Act in the Court of King's Bench of Manitoba at Winnipeg, file CI 20-01-27277. PricewaterhouseCoopers Inc. is receiver and took possession of the company's property on May 28, 2020. That property carried a net book value of $50,766,880 as at October 31, 2019, comprising lands and buildings of $21,096,188, machinery and equipment of $19,088,430, softwood lumber duties of $10,055,042 and accounts receivable of $527,220; the receiver states those figures do not represent sale or liquidation value. Four secured creditors are owed $17,461,164.40, led by CIBC at $13,405,156, and List "A" shows 188 unsecured creditors totalling $10,150,960.12. The receivership remains active.
The court granted an approval and vesting order for the sale to Prince Furniture Ltd. Closing terms, as extracted: Vesting is effective upon delivery by the Receiver of a Receiver's Certificate to the Purchaser, with the Receiver filing a copy with the Court forthwith after closing to its satisfaction.
Source: Approval and Vesting Order
The court granted an approval and vesting order for the sale to Siddharth Varma and Kunal Mahajan. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's Certificate to the Purchasers; the Receiver must file the certificate with the Court after the Sale Transaction has closed to its satisfaction. Sealed: Second Confidential Report of the Receiver dated November 4, 2021.
re: Sale approval and vesting order motion returnable November 18, 2021 — Application / notice of application
Order (re: Allocation of Net Sale Proceeds and Second Distribution) was filed.
Source: Order (re: Allocation of Net Sale Proceeds and Second Distribution)
The court granted an approval and vesting order for the sale to 1347 Investors LLC. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's Certificate to the Purchaser, confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the transaction to the Receiver's satisfaction. Sealed: Confidential Report of the Receiver dated September 7, 2020.
Source: Sale Approval and Vesting Order
Motion Brief of the Receiver (re Sale Approval and Vesting Order) — Application / notice of application
The court appointed PricewaterhouseCoopers Inc. as receiver, on the application of CANADIAN IMPERIAL BANK OF COMMERCE. Court file CI 20-01-27277.
Source: Receivership Order
The court appointed PricewaterhouseCoopers Inc. as receiver, on the application of CANADIAN IMPERIAL BANK OF COMMERCE. Court file CI20-01-27277.
Debtor
Prendiville Industries Ltd. (Receivership)
Receiver
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kroft | Court of King's Bench of Manitoba | 9 orders, May 2020 – Sep 2022 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverPwC | Tapper Cuddy LLP · Taylor McCaffrey LLP | 25 May 2020 | Order · 25 May 2020 |
| DebtorPrendiville Industries Ltd. (Receivership) | Thompson Dorfman Sweatman LLP | 25 May 2020 | Order · 25 May 2020 |
| CreditorBusiness Development Bank of Canada | Pitblado LLP | 25 May 2020 | Order · 25 May 2020 |
| CreditorCanadian | Dentons Canada LLP | 25 May 2020 | Order · 25 May 2020 |
| CreditorCanadian Imperial Bank of Commerce | MLT Aikins LLP | 25 May 2020 | Order · 25 May 2020 |
| CreditorCanadian National Railway Company / TransX Group of Companies | Dentons Canada LLP | 17 Dec 2020 | Application · 17 Dec 2020 |
| CreditorFormer Employee - Brian Korchinski | D'Arcy & Deacon LLP | 25 May 2020 | Order · 25 May 2020 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | CIBC (Canadian Imperial Bank of Commerce) · in 73 casesSenior secured creditor: unlimited intercompany guarantee (June 29, 2015), general security agreement (June 29, 2015), Bank Act special security (June 29, 2015), mortgage dated May 26, 2015 on the Kenora Property (1060 Lakeview Drive, Kenora ON) — Balance per Company's books and records and PPR registrations; no date stated for the balance. PIL has guaranteed all obligations owed by Prendiville Corporation to CIBC. — debtor: Prendiville Industries Ltd. | $13.4M | Notice and Statement of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
117 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 · 3 approved · 1 proposed — Sale of the Properties to Prince Furniture Ltd. or its nominee approved; vesting upon delivery of the Receiver's Certificate.Approval and Vesting Order · 29 Nov 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1347 Investors LLCcertain of Prendiville's assets (the 'Purchased Assets') as more specifically described in the asset purchase agreement, including the Real Property (Mainland Property and Prendiville Island Property) and Class B shares in Miitigoog General Partner Inc. · asset sale · nominee/assignee: Lumber Assets Holdings LP · agreement 31 Aug 2020 | Subscribers | Approved9 Sep 2020 | Sale Approval and Vesting Order |
| Purchaser of 60 Crane St. is not named in the report text; the offer appended as Appendix B is redactedthe properties located at 56 Crane Street, a vacant lot, and the adjacent lot and building located at 60 Crane Street, Thompson, MB · real property · agreement 31 May 2021 | Subscribers | Proposed | Fourth Report of the Receiver |
| Siddharth Varma and Kunal Mahajancertain of Prendiville's real property (Lot 33 Block 2 Plan 771 PLTO and Lot 32 Block 2 Plan 771 PLTO, Thompson, Manitoba) · real property · nominee/assignee: or their nominee · agreement 6 Apr 2021 | Subscribers | Approved18 Nov 2021 | Approval and Vesting Order - 60 Crane |
| Prince Furniture Ltd.certain of Prendiville's real property (Title Nos. 3037966/3, 1514899/3 and 3037965/3, Thompson, Manitoba) (the 'Properties') · real property · nominee/assignee: its nominee (unnamed) · agreement 18 Jul 2024 | Subscribers | Approved29 Nov 2024 | Approval and Vesting Order |
BDC: a distribution.Fifth Report of the Receiver · 12 Sep 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BDC | — | per the receiver | Fifth Report of the Receiver · 12 Sep 2022 | |
| Secured | CIBC | — | interim | Finalper the receiver | Third Report of the Receiver · 8 Jan 2021 |
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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
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 |
|---|---|---|
Approval and Vesting Order
| PDF · Subscribers | |
Court Order (Activity and Fees approval)
| PDF · Subscribers | |
Fifth Report of the Receiver
| PDF · Subscribers | |
Approval and Vesting Order - 60 Crane
| PDF · Subscribers | |
re: Sale approval and vesting order motion returnable November 18, 2021
| PDF · Subscribers | |
Fourth Report of the Receiver
| PDF · Subscribers | |
Order (re: Allocation of Net Sale Proceeds and Second Distribution)
| PDF · Subscribers | |
| Erratum to the Third Report of the Receiver | PDF · Subscribers | |
Distribution Order
| PDF · Subscribers | |
| First Confidential Report of the Receiver | PDF · Subscribers | |
Notice of Motion (Returable Dec 17, 2020)
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
Sale Approval and Vesting Order
| PDF · Subscribers | |
| Motion Brief of the Receiver (re Sale Approval and Vesting Order) | PDF · Subscribers | |
Notice of Motion (re Sale Approval and Vesting Order)
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Notice and Statement of the Receiver
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit of M. Prendiville, sworn May 27, 2020 | PDF · Subscribers | |
| Affidavit of Service of Sarah Young, sworn May 27 2020 | PDF · Subscribers | |
| Application Brief | PDF · Subscribers | |
| Consent of the Receiver | PDF · Subscribers | |
| Affidavit of M. Echeverri sworn May 25 2020 | PDF · Subscribers | |
| Affidavit of Sarah Young Sworn May 25 2020 | PDF · Subscribers | |
Application for Receivership Order
| PDF · Subscribers | |
Receivership Order Blackline Comparison
| PDF · Subscribers | |
| Service List | PDF · Subscribers | |
Third Report of the Receiver
| 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., “Prendiville Industries Ltd. (Receivership)” (Receivership (court-appointed)), Court of King's Bench of Manitoba. Retrieved 16 October 2026, https://proceedings.ca/case/prendiville-industries-ltd-rcvr
Sources last checked · summary updated 1 October 2026 · Report a correction · Printed from proceedings.ca/case/prendiville-industries-ltd-rcvr
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.