WCI Westervelt College Inc. was placed in a court-appointed receivership in the Ontario Superior Court of Justice (Commercial List), with Richter Advisory Group Inc. appointed receiver on the application of ECC Education Consolidation Corporation under section 101 of the Courts of Justice Act (court file CV-17-579922-00CL). An unaudited management balance sheet as at June 30, 2017 showed total assets of $3,620,249 against total liabilities of $4,241,066, the latter including $2,798,596 in intercompany payables owing to the parent and affiliates.
The court granted an approval and vesting order for the sale to EFC Trade Inc. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction. Court file CV-17-579922-00CL.
The court appointed Richter Advisory Group Inc. as receiver, on the application of ECC Education Consolidation Corporation. Court file CV-17-579922-00CL.
ECC Education Consolidation Corporation's application to appoint a receiver was filed July 31, 2017.
Debtor
WCI Westervelt College Inc
Receiver
Richter
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 584 casesGeneral security interest (PPSA registration) securing WCI's guarantee of an ECC credit facility (the 'RBC Guarantee') — Obligations guaranteed currently total approximately this amount; RBC has consented to the Transaction and Approval and Vesting Order — debtor: WCI Westervelt College Inc. | $4.06M | Application Record – dated July 31, 2017 |
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approvedApproval and Vesting Order – dated August 2, 2017 · 2 Aug 2017
| Purchaser | Price | Status | Source |
|---|---|---|---|
| EFC Trade Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · asset sale · agreement 26 Jul 2017 | not stated | Approved2 Aug 2017 | Approval and Vesting Order – dated August 2,… |
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Approval and Vesting Order – dated August 2, 2017
| PDF · Subscribers | |
| Endorsement – dated August 2, 2017 | PDF · Subscribers | |
Order (appointing Receiver) – dated August 2, 2017
| PDF · Subscribers | |
Report of Richter Advisory Group Inc. in its capacity as Proposed Receiver of WCI Westervelt College Inc. – dated August 1, 2017
| PDF · Subscribers | |
Application Record – dated July 31, 2017
| PDF · Subscribers | |
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CiteProceedings., “WCI Westervelt College Inc” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/wci-westervelt-college-inc
Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/wci-westervelt-college-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.