British Columbia · Receivership (court-appointed)
Notice of Application for Trilogy Holdback Funds, filed November 18, 2024
Application / notice of application · 18 November 2024
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 filing12 verified
- applicantDeloitte Restructuring Inc.
- appointeeDeloitte Restructuring Inc.
- appointee roleReceiver
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noH240524
- secured creditorsnote: Holding company of Whitewater Principals; judgment amount, security status not stated; plus RBC's costs · page: 3 · as of: Receivership Order granted July 2, 2024 · amount: 1070440.89 · debtor: Bastian Holdings Ltd. · creditor: Royal Bank of Canada · currency: CAD
- secured creditorsnote: RBC described as 'the Operating Companies' senior secured creditor' (Concrete and Developments) · page: 3 · as of: 2024-06-28 · amount: 10812163.76 · debtor: Whitewater Concrete Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Judgment granted pursuant to Receivership Order dated July 2, 2024; interest at RBC prime rate + 1.6% per annum from June 28, 2024
- secured creditorsnote: Holding company of Whitewater Principals; judgment amount, security status not stated; plus RBC's costs · page: 3 · as of: Receivership Order granted July 2, 2024 · amount: 1070440.89 · debtor: Krystle Holdings Ltd. · creditor: Royal Bank of Canada · currency: CAD
- secured creditorsnote: RBC described as 'the Operating Companies' senior secured creditor' (Concrete and Developments) · page: 3 · as of: 2024-06-28 · amount: 762380.05 · debtor: Whitewater Developments Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Judgment granted pursuant to Receivership Order dated July 2, 2024; interest at RBC prime rate + 1.6% per annum from June 28, 2024
- secured creditorsnote: 145 grouped with the Operating Companies as 'Debtors' under the Receivership Order; document does not explicitly confirm RBC's secured status against 145 specifically (security description limited to prose statement re Operating Companies only) · page: 3 · as of: 2024-06-28 · amount: 11574543.81 · debtor: 145 Golden Drive Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Judgment granted pursuant to Receivership Order dated July 2, 2024; interest at RBC prime rate + 1.6% per annum from June 28, 2024
- secured creditorsnote: Judgment against individuals who are directors/principals of the Operating Companies; likely personal guarantors of RBC's facility (personal guarantee role, not a separate corporate secured claim); plus RBC's costs · page: 3 · as of: Receivership Order granted July 2, 2024 · amount: 481698.41 · debtor: Kyle Smith and Craig Smith (jointly, the 'Whitewater Principals') · creditor: Royal Bank of Canada · currency: CAD
- secured creditorsnote: Judgment amount joint and several among individuals and their holding companies; security status not stated; plus RBC's costs · page: 3 · as of: Receivership Order granted July 2, 2024 · amount: 107044.1 · debtor: Whitewater Principals, Bastian Holdings Ltd. and Krystle Holdings Ltd. (joint and several) · creditor: Royal Bank of Canada · currency: CAD