TBA Beverage Inc.
- Proceeding
- NOIs. 50.4(9) of the Bankruptcy and Insolvency Act, R.S.C. 1983 c. B-3
- File
- B-200208
- Industry
- Manufacturing · Food & beverage manufacturing
TBA Beverage Inc. filed a notice of intention to make a proposal on May 8, 2020 in the Supreme Court of British Columbia, court file B-200208, with The Bowra Group Inc. as Proposal Trustee. The matter proceeds under s. 50.4(9) of the Bankruptcy and Insolvency Act, R.S.C. 1983 c. B-3, and remains active. Its secured lender, 1241393 B.C. Ltd. — a related party connected to certain TBA shareholders and management — was owed approximately $6 million as at the filing date under a general security agreement dated October 11, 2016 over all present and after-acquired property. That lender had delivered a notice of default and demand for payment, together with a notice of intention to enforce security, on April 13, 2020, entering a forbearance agreement the same day. Unsecured claims were reported in excess of $9 million as at April 14, 2020.
Notice of Application to Court returnable August 7, 2020 — Application / notice of application
Notice of Application to Court returnable June 24, 2020 — Application / notice of application
Application filed in the Supreme Court of British Columbia, commencing the insolvency proceeding concerning TBA Beverage Inc. under court file number B-200208.
Source: Notice of Application to Court returnable May 13, 2020
Debtor
TBA Beverage Inc.
Proposal trustee
The Bowra Group
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | 1241393 B.C. Ltd.as of NOI filing date — General Security Agreement dated October 11, 2016 over all present and after-acquired property, securing Loan Agreement dated October 11, 2016 (amended November 5, 2019 and March 16, 2020) and Line of Credit Agreement dated December 11, 2019 — Related party - related to certain shareholders and management of TBA; approximate figure as at date of filing; delivered Notice of Default and Demand for Payment and Notice of Intention to Enforce Security on April 13, 2020; entered forbearance agreement same day — debtor: TBA Beverage Inc. | $6M | Notice of Application to Court returnable May 13, 2020 |
| 8 | Unsecured |
1 more claim in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approved — The sale transaction contemplated by the Sale Contract between Mod and TBA is approvedNOI Extension and Approval of Sale Contract Order · 7 Aug 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Mod Beverage Inc.the assets described in the Sale Contract (the "Assets") · asset sale · agreement 14 Jul 2020 | Subscribers | Approved7 Aug 2020outside 30 Sep 2020 | NOI Extension and Approval of Sale Contract… |
| Date | Document | File |
|---|---|---|
NOI Extension and Approval of Sale Contract Order
| PDF · Subscribers | |
| Notice of Application to Court returnable August 7, 2020 | PDF · Subscribers | |
| NOI Extension and Amendment to Authorized Line of Credit Order | PDF · Subscribers | |
Notice of Application to Court returnable June 24, 2020
| PDF · Subscribers | |
NOI Extension and Sales Process Order
| PDF · Subscribers | |
Notice of Application to Court returnable May 13, 2020
| PDF · Subscribers | |
Investment Teaser
| 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., “TBA Beverage Inc.” (NOI), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/tba-beverage-inc