British Columbia · CCAA
Tenth Report of the Monitor, October 22, 2025
Court officer report · 22 October 2025
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: RBC, as the primary secured creditor in relation to the Purchased Assets, is supportive of the Langley Farm Transaction, notwithstanding that they will suffer a significant shortfall on their debt. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: RBC (Senior Lender / primary secured creditor) · creditor name: RBC · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As the Senior Lenders are expected to suffer a shortfall, it appears unlikely that any recovery will be available to CWB. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: CWB · creditor name: CWB · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As the Senior Lenders are expected to suffer a shortfall, it appears unlikely that any recovery will be available to Five Peaks Capital Ltd. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Five Peaks Capital Ltd. · creditor name: Five Peaks Capital Ltd. · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, no recovery is expected for Canada Revenue Agency in respect of its GST claim against Axon, and the Monitor does not anticipate assigning this entity into bankruptcy. · pct of: unstated · outcome: nil · class key: deemed_trust · stated by: monitor · class label: Canada Revenue Agency (GST claim against Axon) · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: After accounting for the Holdbacks, the Monitor proposes to make an initial distribution to the Senior Lenders in the amount of $21.7 million, which is allocated to RBC and BDC in the amounts of $16.6 million and $5.1 million, respectively (the "First Interim Distribution"). · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: monitor · amount low: 21700000 · amount high: 21700000 · class label: Senior Lenders (RBC and BDC) · interim final: interim · currency quote: CAD$'000 · claims qualifier: unstated; basis: estimated · quote: After accounting for the Holdbacks, the Monitor proposes to make an initial distribution to the Senior Lenders in the amount of $21.7 million, which is allocated to RBC and BDC in the amounts of $16.6 million and $5.1 million, respectively (the "First Interim Distribution"). · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: monitor · amount low: 16600000 · amount high: 16600000 · class label: RBC · creditor name: RBC · interim final: interim · currency quote: CAD$'000 · claims qualifier: unstated; basis: estimated · quote: After accounting for the Holdbacks, the Monitor proposes to make an initial distribution to the Senior Lenders in the amount of $21.7 million, which is allocated to RBC and BDC in the amounts of $16.6 million and $5.1 million, respectively (the "First Interim Distribution"). · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: monitor · amount low: 5100000 · amount high: 5100000 · class label: BDC · creditor name: BDC · interim final: interim · currency quote: CAD$'000 · claims qualifier: unstated · stated on: 2025-10-22 · table missing: