#Order
Order Made After Application – Auction Approval (April 8, 2026) was filed.
Source: Order Made After Application – Auction Approval (April 8, 2026)
Westcoast Appliance Center 2014 Ltd. and Capital Iron (2022) Ltd.
FollowActive
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-261320
Filings held19
Last activity8 Apr 2026
On the record206 days
Secured debt$1.8M
OverviewSummary updated
Westcoast Appliance Center 2014 Ltd. and Capital Iron (2022) Ltd. were placed in court-appointed receivership by the Supreme Court of British Columbia on February 27, 2026, under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The application that led to the order was filed a week earlier, on February 20, 2026. The proceeding is carried on Supreme Court of British Columbia court file S-261320 and remains active. The record to date consists of the application and the receivership order itself; no further steps have been reported.
Proceedings AIAsk this case — answers cite the filings
Case updates19 dated entries
#Report
The officer filed report no. Second Report. The Companies ceased operations on February 20, 2026 due to working capital deficiencies; the Receiver is now coordinating with secured creditors and an auctioneer to liquidate inventory and vacate the Companies' premises, and intends to bankrupt both companies shortly.
#Filing
Notice of Application by the Receiver to approve an auction agreement (April 2, 2026) — Application / notice of application
#Filing
Response to Receiver’s April 2, 2026 Application – Cantrex (April 7, 2026) — Response / objection pleading
#Filing
Response to Receiver’s April 2, 2026 Application – Wells Fargo (April 7, 2026) — Response / objection pleading
#Filing
Notice of Application by the Receiver to increase borrowings and compelling Resilient IT Services Inc. to comply with the receivership Order (March 11, 2026) — Application / notice of application
#Order
Court granted the receivership order on Friday, February 27, 2026, commencing the proceeding under BIA s. 243 in file S-261320.
#Filing
Application filed in the Supreme Court of British Columbia seeking a receivership order over Westcoast Appliance Center 2014 Ltd. and Capital Iron (2022) Ltd.
Source: Notice of Application by RBC for the appointment of a Receiver (February 20, 2026)
Parties
Debtor
Westcoast Appliance Center 2014 Ltd. and Capital Iron (2022) Ltd.
Receiver
BDO
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Veenstra | Supreme Court of British Columbia | 4 orders, Feb 2026 – Mar 2026 | 5 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | McMillan LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| ApplicantRoyal Bank of Canada | Dentons Canada LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorBraden Moves & Delivers | Dinning Hunter Law | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorBusiness Development Bank of Canada (BDC) | Kornfeld LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorCantrex Nationwide Group Inc | McEwan Cooper Kirkpatrick LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorFrom | Dentons Canada LLP | 25 Feb 2026 | Affidavit · 25 Feb 2026 |
| CreditorMurray Gudmundson and Michael Pohlman | Cox Taylor | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorNuvei | Stikeman Elliott LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorUS Bank / Elavon | Singleton Urquhart Reynolds Vogel LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
| CreditorWells Fargo Capital Finance Corporation Canada | Miller Thomson LLP | 2 Apr 2026 | Service list · 2 Apr 2026 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 556 casesGeneral security agreement dated November 21, 2014 (all present and after-acquired personal property); chattel mortgage dated November 21, 2014 (specific equipment); cross-guaranteed by Capital Iron (2022) Ltd.; guaranteed by Aram Holdings Ltd. (secured by its own GSA) and by a personal guarantee — Balance is subtotal of: Operating Line $1,481,963.53, Visa $257,466.62, Lease $57,192.94 (components, not to be summed further). Personal guarantor: Tahamtan Aram (a.k.a. Fred Aram), sole director. Total combined RBC indebtedness across both borrowers stated by RBC as $3,307,799.86. — debtor: Westco · as of 13 Feb 2026 | $1.8M | Affidavit #1 of Tanja Deretic dated February 20, 2026 |
| 4 | Secured | Royal Bank of Canada · in 556 casesGeneral security agreement dated November 17, 2023 (all present and after-acquired personal property); cross-guaranteed by Westcoast Appliance Centre 2014 Ltd.; guaranteed by Aram Holdings Ltd. (secured by its own GSA) and by a personal guarantee — Balance is subtotal of: Operating Line $476,862.01, Visa $62,610.32, Lease $971,704.44 (components, not to be summed further). Personal guarantor: Tahamtan Aram (a.k.a. Fred Aram), sole director. Total combined RBC indebtedness across both borrowers stated by RBC as $3,307,799.86. — debtor: Capital Iron (2022) Ltd. · as of 13 Feb 2026 | $1.51M | Affidavit #1 of Tanja Deretic dated February 20, 2026 |
| 4 | Secured | Cantrex Nationwide Group Inc.as of end of November 2025 — Registered security (priority/subordination agreement with RBC governing relative priority) — Statements showing outstanding balances to Cantrex as of end of November 2025 were the last provided to RBC (Exhibit P); specific balance not stated in this affidavit excerpt. — debtor: Westcoast Appliance Centre 2014 Ltd. and Capital Iron (2022) Ltd. | — | Affidavit #1 of Tanja Deretic dated February 20, 2026 |
| 4 | Secured | Wells Fargo Capital Finance Corporation Canada · in 13 casesas of end of November 2025 — Registered security (priority/subordination agreement with RBC governing relative priority) — Statements showing outstanding balances to Wells Fargo as of end of November 2025 were the last provided to RBC (Exhibit P); specific balance not stated in this affidavit excerpt. — debtor: Westcoast Appliance Centre 2014 Ltd. and Capital Iron (2022) Ltd. | — | Affidavit #1 of Tanja Deretic dated February 20, 2026 |
| 6 | Landlord preferred | Employees (WEPP priority claims) · in 185 casesPreferred/priority claim ranking ahead of all secured creditors over current assets, up to $2,000 per employee (BIA); estimated at $34,000 for Westcoast and $26,000 for Capital Iron, totaling $60,000 — debtor: Westcoast Appliance Centre 2014 Ltd. and Capital Iron (2022) Ltd. · as of 27 Feb 2026 | $60K | First Report of the Receiver (March 11, 2026) |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale processAs stated in the filings
Sale approved — The transactions contemplated by the Auction Services Agreement between the Receiver and the Auctioneer are approvedOrder Made After Application – Auction Approval (April 8, 2026) · 8 Apr 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| unnamed buyers of Assets sold at auctionany of the Assets (as defined in the Auction Services Agreement) · auction · agreement 28 Mar 2026 | not stated | Approved8 Apr 2026 | Order Made After Application – Auction Approval… |
AdvisorsAble Solutions Inc. (auctioneer)Order Made After Application – Auction Approval (April 8, 2026)
Closing termsUpon receipt of the Net Sale Proceeds and completion of the Transactions contemplated in the Auction Services Agreement, the Receiver shall file a certificate with this Court confirming the same.Order Made After Application – Auction Approval (April 8, 2026)
Estate financialsReported figures — never derived
Total liabilities at filing$6.32M
As at 27 Feb 2026 · per Receiver's estimate, unaudited, based on discussions with Cantrex, Wells Fargo, RBC, former employees and limited books and records · combined Westcoast Appliance Centre 2014 Ltd. and Capital Iron (2022) Ltd. — Stated as a floor: 'estimated liabilities totaling in excess of $6,319,000'; total excludes several creditor amounts listed as 'Unknown' (CRA-GST, CRA-Source Deductions, BDC, Merchant Capital, Ford Credit, Bank of Nova Scotia, Toyota Industries) and thus likely understates true liabilities; no total assets figure stated (inventory noted separately at $5.7 million cost basis, p.10)
Documents
19 filings
| Date | Document | File |
|---|---|---|
Order Made After Application – Auction Approval (April 8, 2026)
| ||
| Notice of Application by the Receiver to approve an auction agreement (April 2, 2026) | ||
| Response to Receiver’s April 2, 2026 Application – Cantrex (April 7, 2026) | ||
| Response to Receiver’s April 2, 2026 Application – Wells Fargo (April 7, 2026) | ||
Second Report of the Receiver (April 2, 2026)
| ||
Service List (April 2, 2026)
| ||
Order Made After Application (March 13, 2026)
| ||
Requisition - Resetting Hearing (March 13, 2026)
| ||
First Report of the Receiver (March 11, 2026)
| ||
| Notice of Application by the Receiver to increase borrowings and compelling Resilient IT Services Inc. to comply with the receivership Order (March 11, 2026) | ||
| Affidavit #1 of Harry Ketchedjian dated February 27, 2026 | ||
Receivership Order (February 27, 2026)
| ||
Affidavit #1 of Dannis Yang dated February 25, 2026
| ||
| Affidavit #2 of Dannis Yang dated February 25, 2026 | ||
Adjournment Order (February 23, 2026)
| ||
| Requisition to Adjourn Application (February 23, 2026) | ||
Affidavit #1 of Tanja Deretic dated February 20, 2026
| ||
Notice of Application by RBC for the appointment of a Receiver (February 20, 2026)
| ||
Notice of Civil Claim (February 20, 2026)
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Westcoast Appliance Center 2014 Ltd. and Capital Iron (2022) Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/westcoast-appliance-center-2014-ltd-and-capital-iron-2022-ltd