British Columbia · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 9 December 2025
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What we verified from this filing12 verified
- cash on handnote: Figure is the closing cash balance per the interim Statement of Receipts and Disbursements, expressed in CAD '000s in the source table. · as at: 2025-12-05 · amount: 2153000 · currency: CAD
- closing confirmedscope: the Auction / certain of the Property · outcome: completed · effective: 2025-06-19 · date basis: stated · approval order date: 2025-04-22
- disbursementsnote: Figures stated in CAD '000s in the interim Statement of Receipts and Disbursements. · since: March 13, 2025 · amount: 1242000 · currency: CAD
- operational summaryThe Debtors' operations have effectively wound down: inventory was sold via the McDougall auction, remaining electric vehicles are stranded in a foreign-trade zone at the Ferndale Property due to import/certification obstacles, and the Receiver is now pursuing sale of the Ferndale real property and remaining vehicles to a single buyer.
- process resultsbids: 3 · note: Three offers received through the Marketing Process for the Ferndale Property · as of: 2025-12-02
- professional feesnote: Total includes fees, disbursements, GST and PST for all three firms; FTI Consulting's own fees were $340,508 plus disbursements/GST of $19,748. · party: Receiver (FTI Consulting Canada Inc.) and its legal counsel (Ballard Spahr LLP and Fasken Martineau DuMoulin LLP) · amount: 571594 · period: March 13, 2025 to December 5, 2025 · currency: CAD
- purchaserprice: note: gross sales proceeds; net minimum guarantee of $1.8 million deposited; stated amount not found on page · basis: cash · sealed: false · currency: CAD · scope: certain of the Property · status: closed · name note: end purchasers at McDougall auction, unnamed · structure: auction · name source: recital · relationship: unstated · agreement date: 2025-04-03; C&Y Investments, LLC
- receipts cumulativenote: Figures stated in CAD '000s in the interim Statement of Receipts and Disbursements. · since: March 13, 2025 · amount: 3181000 · currency: CAD
- report date9 December 2025
- report noSecond Report of the Receiver
- sale advisorMcDougall Auctioneers Ltd.; Windermere Real Estate
- sale outcometext: Auction completed for personal property/vehicles; Ferndale Property and remaining vehicle inventory sale pending court approval · scope: parcel · status: pending_approval