Vernon Recreational Products (VRP) Sales and Service Ltd. and 1390951 B.C. 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
- VLC-S-S-244399
Vernon Recreational Products (VRP) Sales and Service Ltd. and 1390951 B.C. Ltd. remain under the court-appointed receivership of BDO Canada Limited, named receiver and manager on July 18, 2024 by the Supreme Court of British Columbia in file VLC-S-S-244399 on the application of Royal Bank of Canada, under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act. RBC's secured claim against the VRP operating company stood at $8,440,366.14 as of July 24, 2024, with GM Financial Canada Leasing Ltd., The Bank of Nova Scotia, Vault Credit Corporation and VIP Distributors Inc. each shown at a nominal $1.00 balance. The receiver's listing of creditors as of the same date records unsecured claims led by Canada Revenue Agency at $77,187.43 in the deemed trust class, Millenium Insurance at $44,165.94, Crowe Mackay LLP at $25,761.75 and CIBC Wood Gundy at $24,065.76.
16 earlier updates, back to 18 July 2024 — subscribers.
Debtor
Vernon Recreational Products (VRP) Sales and Service Ltd. and 1390951 B.C. Ltd.
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Shergill | Supreme Court of British Columbia | 1 order, Jul 2022 | 2 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Dentons Canada LLP | 29 Oct 2024 | Service list · 29 Oct 2024 |
| CreditorRoyal Bank of Canada | Borden Ladner Gervais LLP | 29 Oct 2024 | Service list · 29 Oct 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesdebtor: Vernon Recreational Products (VRP) Sales and Service Ltd. · as of 24 Jul 2024 | $8.44M | Form 87 - Notice and Statement of the Receiver (Vernon Recreational Products (VRP) Sales and Service Ltd.) |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
2 transactions · 2 approvedOrder approving the sale of assets to 1494072 B.C. Ltd. (September 17,… · 17 Sep 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1494072 B.C. LTD.the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 4 Sep 2024 | Subscribers | Approved17 Sep 2024 | Order approving the sale of assets to 1494072… |
| 1495213 B.C. LTD.the Purchased Assets · asset sale · agreement 4 Sep 2024 | Subscribers | Approved17 Sep 2024 | Order approving the sale of assets to 1495213… |
Unsecured creditors: shortfall. RBC short.EstimatedFirst Report of the Receiver (September 12, 2024) · 12 Sep 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | RBC | — | shortfall | Estimatedper the receiver | First Report of the Receiver (September 12, 2024) · 12 Sep 2024 |
| Preferred | unsecured or preferred creditors | — | no recovery | Estimatedper the receiver | First Report of the Receiver (September 12, 2024) · 12 Sep 2024 |
| Unsecured | — | — | shortfall | Estimatedper the receiver | First Report of the Receiver (September 12, 2024) · 12 Sep 2024 |
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.
| Date | Document | File |
|---|---|---|
| Order approving the distribution to RBC (December 17, 2024) | PDF · Subscribers | |
| Second Report of the Receiver (filed December 10, 2024) | PDF · Subscribers | |
| Creditors Package (November 28, 2024) - VRP | PDF · Subscribers | |
| Creditors Package (November 28, 2024) – 139 | PDF · Subscribers | |
Service List (October 29, 2024)
| PDF · Subscribers | |
Order approving the sale of assets to 1494072 B.C. Ltd. (September 17, 2024)
| PDF · Subscribers | |
Order approving the sale of assets to 1495213 B.C. Ltd. (September 17, 2024)
| PDF · Subscribers | |
| Order sealing the Confidential supplement to the First Report of the Receiver (September 17, 2024) | PDF · Subscribers | |
First Report of the Receiver (September 12, 2024)
| PDF · Subscribers | |
Notice of Application to approve the sales of assets (September 11, 2024)
| PDF · Subscribers | |
| Form 87 - Notice and Statement of the Receiver (1390951 B.C. Ltd.) | PDF · Subscribers | |
Form 87 - Notice and Statement of the Receiver (Vernon Recreational Products (VRP) Sales and Service Ltd.)
| PDF · Subscribers | |
Order amending the Receivership Order dated July 18, 2024 (September 17, 2024)
| PDF · Subscribers | |
| Affidavit #2 of Mark Kemp-Gee (Jul 16, 2024) | PDF · Subscribers | |
| Notice of Hearing to Appoint Receiver (Jul 7, 2024) | PDF · Subscribers | |
| Affidavit #1 of Catherine Anne Connor (Jul 2, 2024) | PDF · Subscribers | |
| Affidavit #1 of Mark Kemp-Gee (Jul 2, 2024) | PDF · Subscribers | |
Filed Petition to Court (Jul 2, 2024)
| PDF · Subscribers | |
Receivership Order (Jul 18, 2022)
| 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., “Vernon Recreational Products (VRP) Sales and Service Ltd. and 1390951 B.C. Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/vernon-recreational-products-vrp-sales-and-service-ltd-and-1390951-b-c-ltd