Vicinity Motor Corp.
Follow- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-247082
Vicinity Motor Corp. has been under court-appointed receivership since October 21, 2024, when the Supreme Court of British Columbia granted a receivership order under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding carries court file number S-247082 and remains active. Nothing has been entered on the record since the appointment: no receiver's reports, no sale or claims process, and no further hearings. Readers tracking the case should treat the October 21 order as the last recorded step.
The court granted an approval and vesting order for the sale to C&Y Investments, LLC. Closing terms, as extracted: Closing occurs upon delivery of the Receiver's Certificate confirming receipt of the full Purchase Price; vacant possession delivered at noon on the Closing Date, subject to permitted encumbrances; Receiver may extend Closing Date with Purchaser's consent.
The officer filed report no. Second Report of the Receiver. The Debtors' operations have effectively wound down: inventory was sold via the McDougall auction, remaining electric vehicles are stranded in a foreign-trade zone at the Ferndale Property due to import/certification obstacles, and the Receiver is now pursuing sale of the Ferndale real property and remaining vehicles to a single buyer.
Source: Second Report of the Receiver
The court granted an approval and vesting order for the sale to the Assets. Closing terms, as extracted: Vesting occurs upon payment of the purchase price for the Assets to McDougall; the Receiver to file a certificate confirming completion.
Supreme Court of British Columbia placed Vicinity Motor Corp. into receivership, commencing the proceeding under court file S-247082.
Debtor
Vicinity Motor Corp.
Receiver
FTI
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Fasken Martineau DuMoulin LLP | 22 Apr 2025 | Service list · 6 Jan 2026 |
| CreditorTransdev Canada Inc | Ballard Spahr LLP | 6 Jan 2026 | Service list · 6 Jan 2026 |
| Creditorve Ticaret and 'Guleryuz Parker Hannifin Canada Attention | Dentons Canada LLP | 6 Jan 2026 | Service list · 6 Jan 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada (RBC) · in 556 casesSame security package as CAD entry: general security agreements, s.427 Bank Act security, blocked accounts agreement, deed of trust over Ferndale Property, assignment of material contracts, unlimited guarantees from Vicinity USA, Vicinity Property, and Vicinity Parent — This is the USD component of the same Indebtedness (also CAD$174,307.09), together with accruing costs and interest. — debtor: Vicinity Motor (Bus) Corp. (Borrower); guaranteed by Vicinity Motor Corp. (Vicinity Parent), Vicinity Motor (Bus) USA Corp., and Vicinity Motor Property, LLC · as of 11 Oct 2024 | $16.6M USD | Affidavit #1 of Cameron Bailey, sworn October 16, 2024 |
| Secured | Export Development Canada (EDC) · in 99 casesPriority Agreement dated March 29, 2023 with RBC granting RBC priority over Debtors' personal/moveable property except 'EDC Priority Collateral' (cession of rank in EDC's favour over that carved-out collateral); EDC Guarantee (guarantee approval ref. 80-101318, dated Feb 21, 2023, as amended Feb 16/Apr 16/Apr 30, 2024) guaranteeing Borrower's indebtedness to RBC under the Contract Revolver Facility (max USD$30,000,000) up to USD$22,500,000 — EDC independently issued demand letters and Notices of Intention to Enforce Security to the Debtors (per Bank's information); amount of any direct EDC cla | — | Affidavit #1 of Cameron Bailey, sworn October 16, 2024 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
4 transactions · 2 approved · 2 closed — Auction completed for personal property/vehicles; Ferndale Property and remaining vehicle inventory sale pending court approvalSecond Report of the Receiver · 9 Dec 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| end purchasers at auction, unnamedthe Assets · auction | not stated | Approved22 Apr 2025 | Approval and Vesting Order (Auction) |
| McDougall Auctioneers Ltd.certain of the Property (the 'Marketed Assets') · auction · agreement 3 Apr 2025 | Sealedgross sales proceeds; net minimum guarantee of $1.8 million deposited; stated amount not found on page | Closed | Second Report of the Receiver |
| unnamedthe Auction / certain of the Property | not stated | Closed19 Jun 2025 | Second Report of the Receiver |
| C&Y Investments, LLCthe Debtors' interest in the Property · real property · agreement 10 Nov 2025 | $10.5M USDPrice not stated in operative order paragraphs; agreement price appears in Schedule B at $10,500,000 USD | Approved19 Dec 2025 | Ferndale Approval and Vesting Order |
As at 30 Jun 2024 · per book value as stated in the unaudited financial statements of the Debtors as at June 30, 2024, not audited, reviewed or verified by the Receiver · entity - the Debtors (Vicinity Motor Corp., Vicinity Motor (Bus) Corp., Vicinity Motor (Bus) USA Corp., Vicinity Motor Property, LLC) collectively — Components: Cash 223, Receivables 7,217, Inventory 37,543, Prepaids and deposits 6,195, Intangible assets 13,557, Property, plant, and equipment 32,120 (amounts in thousands of CAD). Cash reflects the amount received into the Receiver's bank accounts upon appointment. Secured creditor amounts owed: RBC 22,449, EDC 11,941, Total 34,390 (thousands CAD, as of October 21, 2024). Unsecured creditors total approximately 35,167 (thousands CAD) per Schedule A.
Cumulative receipts
$3.18M
As at 9 Dec 2025Second Report of the Receiver
Cumulative disbursements
$1.24M
As at 9 Dec 2025Second Report of the Receiver
Cash on hand
$2.15M
As at 9 Dec 2025Second Report of the Receiver
Professional fees to date
$572K
As at 9 Dec 2025Second Report of the Receiver
| Date | Document | File |
|---|---|---|
Service List
| ||
Ferndale Approval and Vesting Order
| ||
| Notice of Application | ||
Second Report of the Receiver
| ||
| List of Known Creditors | ||
Approval and Vesting Order (Auction)
| ||
Sealing Order
| ||
First Report of the Receiver
| ||
Invitations for Offers to Purchase
| ||
Notice to Creditors
| ||
| Application Record Index | ||
Order Made After Application (Receivership Order)
| ||
Affidavit #1 of Cameron Bailey, sworn October 16, 2024
| ||
| Affidavit #1 of Chelsea Denton, sworn October 16, 2024 | ||
| Notice of Hearing | ||
Requisition - Short Notice
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Vicinity Motor Corp.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/vicinity-motor-corp