#Report
Western Concord Manufacturing
FollowActive
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and Section 39 of the Law and Equity Act, R.S.B.C. 1996 c. 253, as amended (the "LEA")
- File
- 11-2324216
OverviewSummary updated
Western Concord Manufacturing filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act on December 8, 2017, in British Columbia, with Ernst & Young Inc. acting as Licensed Insolvency Trustee (court files 11-2324216, 11-2324218 and 11-2324219). Its secured creditors include HSBC Bank Canada, owed $4,058,852.00, and a related party, Hanover Investment Corporation Ltd., whose secured claim is $43,272,921.19.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Per the Claims Process with a Claims bar date of April 8, 2018 dated 9 March 2018.
Proceedings AIAsk this case — answers cite the filings
Case updates43 dated entries
#Filing
Notice of Application of Hanover Investments Order sought that the amount equal to the claim asserted by Service Canada as a priority be paid to Hanover — Application / notice of application
#Report
40 earlier updates, back to 8 December 2017 — subscribers.
Parties
Debtor
Western Concord Manufacturing
Receiver
EY
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Groves | Supreme Court of British Columbia | 3 orders, Dec 2017 – Mar 2018 | 6 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverEY | Cassels Brock & Blackwell LLP | 16 Feb 2018 | Service list · 16 Feb 2018 |
| DebtorWestern Concord Manufacturing | Dentons Canada LLP | 16 Feb 2018 | Service list · 16 Feb 2018 |
| CreditorHSBC Bank Canada | Borden Ladner Gervais LLP | 16 Feb 2018 | Service list · 16 Feb 2018 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Hanover Investment Corporation Ltd.as of Company's records as of NOI filing date — related party (listed separately from an unsecured entry for same creditor); listed as secured per creditor listing — debtor: Western Concord Manufacturing Partnership | $43.3M | Notice to Creditors of Stay of Proceedings |
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.
185 more claims across lower-ranking classesSubscribe to view
Sale processAs stated in the filings
Sale closed — The sale contemplated under and pursuant to the APA completed on March 1, 2018The purpose of this second report of the Receiver (the “Second… · 3 Oct 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Mercury Plastics of Canada Inc.substantially all of its assets · asset sale | not stated | Closed1 Mar 2018 | The purpose of this second report of the… |
AdvisorsErnst & Young Orenda Corporate Finance (Canada) Inc. (financial advisor)Preliminary Report of the Trustee
Closing termsCanadian Assets shall be delivered by the Seller to the Buyer at 11:59 pm (local Vancouver Time) on the Closing Date; extension of Closing Date up to 30 days allowedThe extension of filing the Proposal is extended to April 7, 2018. The…
RecoveriesAs declared or paid
Unsecured creditors: no distribution. HSBC paid in full · Mercury a distribution.FinalNotice of Application of Hanover Investments Order sought that the… · 4 Oct 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | — | — | shortfall | Estimatedper the trustee | Preliminary Report of the Trustee · 26 Apr 2018 |
| Secured | HSBC | — | paid in fullconditional | Estimatedper the proposal trustee | The purpose of this second report (the "Second ReporY') is to advise… · 15 Feb 2018 |
| Secured | Hanover Investments Corporation Ltd. | — | a distribution | Finalper the receiver | Notice of Application of Hanover Investments Order sought that the… · 4 Oct 2018 |
| Unsecured | — | — | no distribution | Finalper the receiver | Notice of Application of Hanover Investments Order sought that the… · 4 Oct 2018 |
| class not placedMercury | Mercury | — | a distributioninterim | Finalper the receiver | The purpose of this second report of the Receiver (the “Second… · 3 Oct 2018 |
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.
4 stated figures across 5 outcomes, each sourcedSubscribe to view
Fees and ratesAs stated in the filings
2 engagements · 2 firms — latest: Cassels Brock & Blackwell LLP, 1 Dec 2017 – 30 Sep 2018The purpose of this second report of the Receiver (the “Second… · 3 Oct 2018
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Cassels Brock & Blackwell LLPCounsel | 1 Dec 2017 – 30 Sep 2018Sought | — | — | — | The purpose of this second report of the Receiver (the “Second… · 3 Oct 2018 |
| Ernst & Young Inc.Proposal trustee | 5 Mar – 4 Jun 2018 | — | — | —8 people | The purpose of this second report of the Receiver (the “Second… · 3 Oct 2018 |
30 stated figures across 2 engagements, each sourcedSubscribe to view
Documents
43 filings
| Date | Document | File |
|---|---|---|
This Court orders that: 1. The time for service of the Notice of Application herein and all materials referred to therein is abridged as necessary such that the Notice of Application is properly returnable today. 2. The Second Report, and the actions and conduct of the Receiver as particularized therein, are hereby approved. 3. The fees and disbursements of the Receiver and its counsel, as set out in the Second Report, the Bell Affidavits, and the Enns Affidavits, are hereby approved. 4. The Receiver is authorized and directed to distribute the funds held by it as follows: (a) pay into court to the credit of this action an amount equal to the claim asserted by Service Canada as a priority pursuant to subsection 81.3 of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3; and (b) to distribute any remaining funds or additional funds received by it in its capacity as the Receiver, to Hanover on account of Western Concord's obligations, without further Order of this Court
| PDF · Subscribers | |
Notice of Application of Hanover Investments Order sought that the amount equal to the claim asserted by Service Canada as a priority be paid to Hanover
| PDF · Subscribers | |
The purpose of this second report of the Receiver (the “Second Receiver’s Report”) is to advise the Supreme Court of British Columbia with respect to, inter alia, the following: a. condensed background information of Western Concord; b. the receipts and disbursements of the Receiver; c. the potential Section 81.3 claims; d. the professional fees of the Receiver and its legal counsel; e. the Final Distribution (defined below) and the proposed discharge of the Receiver following completion of the final matters related to these proceedings; and f. the Receiver’s recommendations
| PDF · Subscribers | |
| Order approving the Receiver's First Report. Receiver is authorized to distribute the first interim distribution | PDF · Subscribers | |
Notice of Application Orders sought: 1. approving the Receiver's first report dated May 31, 2018 (the "First Receiver's Report") and activities described therein; 2. approving an interim distribution from the Net Proceeds
| PDF · Subscribers | |
The purpose of the First Report was to advise the Supreme Court of British Columbia with respect to, inter alia: a. the background of the Companies; b. the financial position of the Companies and causes of insolvency; c. the assets and liabilities of the Companies; d. the activities undertaken by the Proposal Trustee in accordance with the provisions of the BIA; 3 e. the Companies’ projected cash flows for the period of December 11, 2017 to February 25, 2018 (the “First Report Cash Flow Forecast”); f. the Companies’ request for an extension of the deadline to file a Proposal from February 7, 2018 to February 25, 2018; and g. the Proposal Trustee’s recommendations
| PDF · Subscribers | |
Preliminary Report of the Trustee
| PDF · Subscribers | |
| Directive 22R - Instructions to complete forms | PDF · Subscribers | |
| Form 31 - Proof of Claim | PDF · Subscribers | |
| Form 36 - Proxy | PDF · Subscribers | |
| Notice of Bankruptcy to Creditors | PDF · Subscribers | |
| Claims Process Order | PDF · Subscribers | |
Order appointing EY as receiver of the Net Proceeds
| PDF · Subscribers | |
Blackline of Model Receivership Order - Receivership Order (Over Proceed
| PDF · Subscribers | |
| UNFILED Affidavit of Avic Arenas, sworn 02 Mar 2018 | PDF · Subscribers | |
UNFILED Notice of Application (Claims Process)
| PDF · Subscribers | |
| UNFILED Notice of Application (Receivership) | PDF · Subscribers | |
| Notice of Application, returnable 21 Feb 2018 to extend the period until 07 April 2018 to file a proposal | PDF · Subscribers | |
| Sealing the document Supplemental Report to the Second Report of the Proposal Trustee | PDF · Subscribers | |
The extension of filing the Proposal is extended to April 7, 2018. The sale transaction contemplated by the Asset Purchase Agreement dated February 5, 2018 is approved
| PDF · Subscribers | |
Service List as of 16 Feb 2018
| PDF · Subscribers | |
| Affidavit of George Wright, sworn 15 Feb 2017 regarding update on business and operations | PDF · Subscribers | |
| Notice of Application of the Proposal Trustee to seal Supplemental Report to the Second Report of the Proposal Trustee | PDF · Subscribers | |
Second Report of the Trustee The purpose of this second report (the "Second ReporY') is to advise the Supreme Court of British Columbia with respect to, inter alia, the following: a. condensed background information of Western Concord; b. the Marketing Process (defined below) undertaken prior to the NOI; c. a summary of prior efforts to market the Companies and analysis of its business; d. the Proposal Trustee's estimate of the value of the Companies; e. the indebtedness of the Companies to their Secured Creditors; f. the Security Review (defined below) performed by Cassels Brock &Blackwell LLP ("Cassels"), independent legal counsel for the Trustee; g. the asset purchase agreement with a United States-based strategic investor (the "Buyer") to acquire substantially all of the assets of the Companies (the "APA"); h. the Proposal Trustee's commentary on the APA; i. the Companies' intended application for a claims process (the "Proposed Claims Process"); j. a budget to actual cash flow analysis since the First Report (being the period from December 11, 2017 to February 9, 2018); k. the Companies' projected cash flows for the period from February 9, 2018 to April 7, 2018 (the "Second Report Cash Flow Forecast"); I. the Companies' request for an extension of the deadline to file proposals by 45 days to April 7, 2018; and m. the Proposal Trustee's Recommendations
| PDF · Subscribers | |
The extension of filing of the Proposal is to February 21, 2018 and the proceedings have been consolidated
| PDF · Subscribers | |
| Affidavit 1 of A. Arenas (WCSL) dated 15 Dec 2017 | PDF · Subscribers | |
| Affidavit of Avic Arenas (WCM ED) dated 15 Dec 2017 | PDF · Subscribers | |
| Affidavit of Avic Arenas (WCM Limited) dated 15 Dec 2017 | PDF · Subscribers | |
| Affidavit of Avic Arenas (WCM NW) dated 15 Dec 2017 | PDF · Subscribers | |
| Affidavit of Avic Arenas (WCM Partnership) dated 15 Dec 2017 | PDF · Subscribers | |
| Affidavit of George Wright dated December 15, 2017 | PDF · Subscribers | |
| The purpose of this first report of the Proposal Trustee (the “First Report”) is to advise the Supreme Court of British Columbia with respect to, inter alia, the following: a. the background of Western Concord; b. the financial position and causes of insolvency; c. the assets and liabilities of the Companies; d. the activities undertaken by the Proposal Trustee in accordance with the provisions of the BIA; e. the Companies’ projected cash flows for the period from December 11, 2017 to February 25, 2018 (the “First Report Cash Flow Forecast”); f. the Companies request for an extension of the deadline to file proposals by 45 days to February 21, 2018 (the “Extended Deadline”); g. the Proposal Trustee’s Recommendations | PDF · Subscribers | |
| Certificate for the Notice of Intention - WC Supply Ltd | PDF · Subscribers | |
Certificate for the Notice of Intention - WCM Edmonton Ltd
| PDF · Subscribers | |
Certificate for the Notice of Intention - WCM Ltd
| PDF · Subscribers | |
| Certificate for the Notice of Intention - WCM New West Ltd | PDF · Subscribers | |
Certificate for the Notice of Intention - WCM Partnership Ltd
| PDF · Subscribers | |
| Form 33 - WC Supply Ltd | PDF · Subscribers | |
| Form 33 - WCM Edmonton Ltd | PDF · Subscribers | |
| Form 33 - WCM New West Ltd | PDF · Subscribers | |
| Form 33 - WCM Partnership Ltd | PDF · Subscribers | |
Notice to Creditors of Stay of Proceedings
| PDF · Subscribers | |
| form 33 - WCM Ltd | 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., “Western Concord Manufacturing” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/western-concord-manufacturing