British Columbia · CCAA
Coulson Manufacturing 2017 Ltd. - Trustee's Preliminary Report
Court officer report · 2 September 2026
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 filing9 verified
- cash on handnote: Held by the Monitor in the CCAA Proceedings and attributable to the Company; to be applied first to remaining CCAA costs, with any balance distributed to the Lenders on account of their security, subject to further Court order. The Statement of Affairs lists cash on hand of $1,482,836.00 as at August 18, 2026. · amount: 1500000 · currency: CAD · qualifier: approximately
- closing confirmedscope: substantially all of the Company's real property, equipment and related business assets · outcome: completed · effective: 2025-06-20 · purchaser: The Fraserview Cedar Partnership · date basis: stated
- financial positionnote: Assets consist solely of cash on hand of $1,482,836.00; all other asset lines are 0.00. Liabilities: secured creditors 1,482,836.00, preferred creditors 0.00, unsecured creditors 145,788,481.32, contingent/trust claims 0.00. Statement of Affairs shows a deficiency of $145,788,481.32. · as at: 2026-08-18 · basis: Statement of Affairs (Form 78) as stated and estimated by the bankrupt/debtor; the Trustee has not audited or verified the information and expresses no opinion or assurance on it · scope: Coulson Manufacturing 2017 Ltd. only (single bankrupt entity, not consolidated with the San Group) · currency: CAD · total assets: 1482836 · total liabilities: 147271317.32
- operational summaryThe Company has no employees and no operations; the Coulson Mill was placed in care and maintenance in January 2025 and substantially all assets were sold in the CCAA proceedings, leaving no expected recovery for unsecured creditors in the bankruptcy.
- purchaserThe Fraserview Cedar Partnership
- recovery outcomeentries: basis: estimated · quote: Given the anticipated significant shortfall to the Lenders, the Trustee does not expect any recovery for Five Peaks from the Company's assets or other subordinate secured or unsecured creditors. · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: Five Peaks Capital Ltd. · creditor name: Five Peaks Capital Ltd. · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Lenders are expected to realize a significant shortfall on their secured indebtedness, currently estimated to exceed $129.0 million. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: the Lenders · creditor name: the Lenders · interim final: unstated · claims qualifier: unstated · shortfall amount: 129000000; basis: estimated · quote: Given the extent of this shortfall, there are no unencumbered assets of the Company available for distribution to unsecured creditors, and the Trustee does not anticipate any recovery to unsecured creditors in the Company's bankruptcy estate. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date2 September 2026
- report noTrustee's Preliminary Report
- sale outcometext: The Transaction closed on June 20, 2025 for net proceeds of $12.1 million · scope: whole_business · status: closed