Speakeasy Cannabis Club Ltd. and 10161233 Canada Ltd. and the Bankruptcy of 1399951 BC Ltd.
Speakeasy Cannabis Club Ltd. and 10161233 Canada Ltd. have been under the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia since July 27, 2022, in file S-226028, alongside the bankruptcy of 1399951 BC Ltd. Creditor lists as at August 17, 2022 record a secured claim of $2,372,897.00 by 1287866 BC Ltd and two separate balances of $1,810,000.00 and $1,497,260.27 owed to 1244726 BC Ltd, care of Bhayana Ventures Ltd., with Her Majesty the Queen in Right of British Columbia secured for $158,106.82 and $101,842.78. The Canada Revenue Agency leads the unsecured creditors at $1,786,318.79, followed by Tazco Enterprises at $992,250.00 and Sweet Valley Cannabis Inc. at $709,117.50.
A claims procedure has been established — see the order for deadlines.
Application Response of RC Frontier Labs Ltd. dated January 27, 2023 — Response / objection pleading
The court approved a sale and investment solicitation process. A bid deadline of 2022-12-11.
Source: Order Made After Application re: Extension and SISP dated October 20, 2022
Second Amended and Restated Initial Order dated August 22, 2022 — Amended and restated initial order
Amended and Restated Initial Order (August 5) entered August 16, 2022 — Amended and restated initial order
Undated filings2 — no date appears on the document · show
Debtor
Speakeasy Cannabis Club Ltd. and 10161233 Canada Ltd. and the Bankruptcy of 1399951 BC Ltd.
Monitor
Crowe MacKay
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Macintosh | Supreme Court of British Columbia | 5 orders, Jul 2022 – Oct 2022 | 7 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorCrowe MacKay | Dentons Canada LLP | 24 Apr 2023 | Service list · 24 Apr 2023 |
| ApplicantSpeakeasy Cannabis Club Ltd. and 10161233 Canada Ltd. and the Bankruptcy of 1399951 BC Ltd. | Clark Wilson LLP | 24 Apr 2023 | Service list · 24 Apr 2023 |
| Interim lenderTravelers Capital Corp., the proposed | Lawson Lundell LLP | 24 Apr 2023 | Service list · 24 Apr 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | 1287866 BC Ltddebtor: Speakeasy Cannabis Club Ltd. · as of 17 Aug 2022 | $2.37M | Creditor List (August 17, 2022) |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
247 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 plans2 transactions · 1 proposed · 1 not completed — the Sale was approved by this Honourable Court. Since the approval of the Sale, the Monitor has been working closely with the Purchaser with respect to the closing of the transaction.Sixth Report of the Monitor dated February 28, 2023 · 28 Feb 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| referred to only as 'the Purchaser'; no name statedthe Purchased Shares, the Lands, the Retained Contracts, or the Retained Assets · share sale · agreement 20 Jan 2023 | Subscribers | Proposed | Fifth Report of the Monitor dated January 20,… |
| 1373482 BC Ltd.the Petitioners' undertakings and properties | not stated | Not completeddate not stated | Sixth Report of the Monitor dated February 28,… |
| Date | Document | File |
|---|---|---|
| Affidavit #1 of Jordan Schultz | PDF · Subscribers | |
| Affidavit #2 of Derek Lai | PDF · Subscribers | |
| Certificate of Filing of a Bankruptcy Order | PDF · Subscribers | |
Service List April 24, 2023
| PDF · Subscribers | |
| Notice of Bankruptcy | PDF · Subscribers | |
| Notice of Application filed February 28, 2023 | PDF · Subscribers | |
| Order Made After Application re: Extension of Stay dated February 28, 2023 | PDF · Subscribers | |
Sixth Report of the Monitor dated February 28, 2023
| PDF · Subscribers | |
| Order Made After Application re: Sale and RVO dated February 1, 2023 | PDF · Subscribers | |
| Affidavit #1 of Derek Lai | PDF · Subscribers | |
| Affidavit #1 of Preetinder Bhayana | PDF · Subscribers | |
| Application Response of Marc Geen dated January 27, 2023 | PDF · Subscribers | |
| Application Response of RC Frontier Labs Ltd. dated January 27, 2023 | PDF · Subscribers | |
| Affidavit #1 of Alex Kaulins | PDF · Subscribers | |
| Affidavit #2 of Marc Geen | PDF · Subscribers | |
Fifth Report of the Monitor dated January 20, 2023 (unfiled)
| PDF · Subscribers | |
| Notice of Application filed January 20, 2023 | PDF · Subscribers | |
Material Adverse Change Report of the Monitor dated December 30, 2022
| PDF · Subscribers | |
Order Made After Application re: Extension and SISP dated October 20, 2022
| PDF · Subscribers | |
Fourth Report of the Monitor dated October 18, 2022
| PDF · Subscribers | |
| Notice of Application filed October 17, 2022 | PDF · Subscribers | |
Order Made After Application re: Extension of Stay dated October 6, 2022
| PDF · Subscribers | |
| Third Report of the Monitor dated October 5, 2022 | PDF · Subscribers | |
| Notice of Application filed October 4, 2022 | PDF · Subscribers | |
Second Amended and Restated Initial Order dated August 22, 2022
| PDF · Subscribers | |
| Notice of Application filed August 18, 2022 | PDF · Subscribers | |
| Second Report of the Monitor dated August 18, 2022 | PDF · Subscribers | |
Creditor List (August 17, 2022)
| PDF · Subscribers | |
Amended and Restated Initial Order (August 5) entered August 16, 2022
| PDF · Subscribers | |
| First Report of the Monitor dated August 3, 2022 | PDF · Subscribers | |
| Notice of Application filed August 3, 2022 | PDF · Subscribers | |
| Affidavit No. 1 of Marc Geen | PDF · Subscribers | |
| Affidavit No. 1 of John Parkinson | PDF · Subscribers | |
| Book of Authorities (July 27, 2022) | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| Notice to Creditors dated July 27, 2022 | PDF · Subscribers | |
| Petition Record (July 27, 2022) | PDF · Subscribers | |
| Petition to Court filed July 25, 2022 | PDF · Subscribers | |
| Proof of Claim and Proxy (Form 31 & 36) | PDF · Subscribers | |
| Trustee's Report (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., “Speakeasy Cannabis Club Ltd. and 10161233 Canada Ltd. and the Bankruptcy of 1399951 BC Ltd.” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/speakeasy-cannabis-club-ltd-and-10161233-canada-ltd-and-the-bankruptcy-of-139995