Newfoundland and Labrador · Receivership (private)
Western Building Products Ltd.- 245 Notice
Notice of receiver (s. 245 / Form 87) · 12 June 2019
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing14 verified
- appointeeBDO Canada Limited
- commencement date10 June 2019
- financial positionnote: No asset values are stated; the receivership property is the real property at 25 Poplar Road, Corner Brook, NL. A STATED CANNOT-SAY on the unsecured side: Schedule “A” reads “The Receiver has not yet been able to obtain the books and records as at the date of this notice and therefore has yet to determine if there are any other creditors.” Principal line of business: building contractor and distributor of building supplies. The Receiver intends to sell the property by private or public sale. · page: 1 · basis: Notice of Receiver, BDO Canada Limited, June 12, 2019. · scope: Western Building Products Ltd. (entity level) · currency: CAD
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. Regulatory claim (workers' compensation). · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: WCB NL · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. Municipal claim. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: City of Corner Brook · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: The Bank of Nova Scotia · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: HAPSET · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: BDC is the appointing secured lender. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 265503 · debtor: Western Building Products Ltd. · creditor: Business Development Bank of Canada · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- secured creditorsnote: The stated amount of $1 is a placeholder, not a measured balance. Crown claim. · page: 1 · basis: Notice of Receiver (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated June 12, 2019, item 4(d): “Amount owed by insolvent person to each creditor who holds a security on the property”, at Estimated Book Value. Receiver privately appointed June 10, 2019 by Business Development Bank of Canada under security agreements granted by the Company; the property is real property at 25 Poplar Road, Corner Brook, NL. · amount: 1 · debtor: Western Building Products Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the property at 25 Poplar Road, Corner Brook, NL.
- statutory basisSubsections 245(1) and 246(1) of the BIA
- appointee roleReceiver
- provinceNova Scotia
- proceeding typereceivership_private