Sea Breeze Power Corp. and Sea Breeze Energy Inc.
Follow- Proceeding
- ProposalPart III, Division I of the Bankruptcy and Insolvency Act (Canada)
- File
- B-170055
Sea Breeze Power Corp. and Sea Breeze Energy Inc. are in a Division I proposal in the Supreme Court of British Columbia, file B-170055, with Alvarez & Marsal Canada Inc. as proposal trustee and as the applicant under section 59(2) of the Bankruptcy and Insolvency Act on an application filed December 30, 2016. Sea Breeze Energy Inc.'s statement of affairs as at December 29, 2016 shows assets of $4,576.69 against liabilities of $14,323,030.17 and a deficiency of $14,318,453.48, with preferred and contingent claims both nil. The secured claims are all related-party trusts and entities holding security over vehicles and cash on hand given 21-Jun-2016, led by the Henry P. Anderson III, 2009 Revocable Living Trust at $4,442,313.80 and the Kenneth L. Puryear 2008 Revocable Living Trust at $4,419,755.79.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Second Report. The Companies abandoned the original liquidating-trustee proposal after tax analysis showed value would only be preserved if the Secured Creditor Sponsors retained control of Power, leading to an Amended Proposal under which TuCan acquires Power's shares while a subsidiary sale and tax refunds fund creditor distributions. Court file B-170055.
Alvarez & Marsal Canada Inc., as proposal trustee, filed the application that brought the companies' Division I proposal before the court on December 30, 2016.
Source: Notice of Application
Debtor
Sea Breeze Power Corp. and Sea Breeze Energy Inc.
Proposal trustee
Alvarez & Marsal
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Henry P. Anderson III, 2009 Revocable Living TrustVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $4,444,018.91 — Related party (trust); estimated value of security $1,705.11; balance of claim reported as $4,442,313.80 — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $4.44M | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Kenneth L. Puryear 2008 Revocable Living TrustVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $4,421,452.24 — Related party (trust) — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $4.42M | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | The C Chase Hoffman Administrative TrustVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $1,455,384.88 — Related party (trust) — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $1.45M | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Moranbah Farms, Inc.Vehicles; Cash on Hand (given 21-Jun-2016); amount of claim $443,874.37 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $444K | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Ooldea, Inc.Vehicles; Cash on Hand (given 21-Jun-2016); amount of claim $443,874.37 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $444K | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Hoffman FarmsVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $357,767.38 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $358K | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Hoffman and SonsVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $320,644.42 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $321K | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Mark HoffmanVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $39,784.74 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $39.8K | Sea Breeze Energy Inc. Statement of Affairs |
| 4 | Secured | Hoffman DairiesVehicles; Cash on Hand (given 21-Jun-2016); amount of claim $1,391.11 — Related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $1.39K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Henry P. Anderson III, 2009 Revocable Living TrustAlso listed as secured creditor (List B) for same debt; related party (trust) — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $4.44M | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Kenneth L. Puryear 2008 Revocable Living TrustAlso listed as secured creditor (List B) for same debt; related party (trust) — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $4.42M | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Powerhouse Electric Corp.debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $1.87M | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | The C Chase Hoffman Administrative TrustAlso listed as secured creditor (List B) for same debt; related party (trust) — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $1.45M | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Ooldea Inc.Also listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $444K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Moranbah Farms, Inc.Also listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $444K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Gregory Hoffmandebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $425K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Hoffman FarmsAlso listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $358K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Hoffman and SonsAlso listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $321K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | C&A Energy Services Ltd.debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $99.2K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Mark HoffmanAlso listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $39.8K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Corky Andersondebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $4.18K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Hoffman DairiesAlso listed as secured creditor (List B) for same debt; related party — debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $1.39K | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Ken Puryeardebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $432 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Canada Revenue Agency, Burnaby-Fraser Tax Services Office, Revenue Collections Division, Regional Intake Centredebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Auriane S. Chouinard-Dugglebydebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Anthony O. Dugglebydebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Advantage Mini Storagedebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Receiver General · in 75 casesdebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | McElhanney · in 2 casesdebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Lorrie G. Thompsondebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Worksafe BC · in 31 casesdebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Hemmeradebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Gowling Lafleur Henderson LLP · in 10 casesdebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Ezra G. Mansondebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Elize N. Duggleby-Chouinarddebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Elisha G. Mansondebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Cooper Beauchesne and Associates Ltddebtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
| 8 | Unsecured | Caroline Moore Consulting Ltd.debtor: Sea Breeze Energy Inc. · as of 29 Dec 2016 | $0 | Sea Breeze Energy Inc. Statement of Affairs |
Unsecured creditors: paid in full. Her Majesty the Queen paid in full · Secured Creditor Sponsors $643K · The Consultant paid in full.Under the plan · sanctionedTrustee's Report on the Proposal · 30 Dec 2016
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trustPayments to Her Majesty | Her Majesty the Queen | — | paid in full | Under the plansanctionedper the court | Approval of Proposal · 28 Apr 2017 |
| Secured | Secured Creditor Sponsors | — | $643K | Under the plansanctionedper the trustee | Trustee's Report on the Proposal · 30 Dec 2016 |
| Preferred | — | — | paid in full | Under the plansanctionedper the court | Approval of Proposal · 28 Apr 2017 |
| Unsecured | Consultant's Claim | $157K | paid in fullvs. 64 % in a bankruptcy | Under the plansanctionedper the trustee | Trustee's Report on the Proposal · 30 Dec 2016 |
| class not placedConsultant's Claim | The Consultant | — | paid in full | Under the plansanctionedper the court | Approval of Proposal · 28 Apr 2017 |
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 29 Dec 2016 · per As stated and estimated by the officer (Statement of Affairs, Form 78) · Sea Breeze Energy Inc. (single entity) — Deficiency of $14,318,453.48; preferred creditors (List C) and contingent liabilities (List D) both nil
| Date | Document | File |
|---|---|---|
Approval of Proposal
| ||
| Affidavit #2 of Resja Campfens | ||
Second Report of the Proposal Trustee
| ||
| Affidavit #1 of Resja Campfens | ||
Notice of Application
| ||
| Notice of Hearing of Application for Court Approval | ||
| Notice of Proposal to Creditors | ||
Trustee's Report on the Proposal
| ||
| Creditor Lists - Sea Breeze Energy Inc. | ||
| Creditor Lists - Sea Breeze Power Corp. | ||
Sea Breeze Energy Inc. Statement of Affairs
| ||
| Sea Breeze Power Corp. Statement of Affairs | ||
| Statement of Affairs - Sea Breeze Energy Inc. | ||
| Statement of Affairs - Sea Breeze Power Corp. | ||
| Proof of Claim | ||
| Proxy | ||
| Trustee’s Report to Court | ||
| Voting Letter | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Sea Breeze Power Corp. and Sea Breeze Energy Inc.” (Proposal), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/sea-breeze-power-corp-and-sea-breeze-energy-inc