British Columbia · NOI
Notice of Motion (APA Approval)
Application / notice of application · 30 October 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 filing10 verified
- secured creditorsnote: Amount stated as 'approximately $1,900,000' outstanding as at the date of filing the NOI (NOI filed August 7, 2026). Proceeds distribution to Accord is subject to an independent security opinion on validity and enforceability of the Accord debt (pending). · page: 3 · as of: NOI filing date · amount: 1900000 · debtor: Sonic Enclosures Ltd. · creditor: Accord Financial Canada Corp. (and associated entities) · currency: CAD · security: Security over all present and after-acquired property and certain specified equipment and vehicles; priority over Accounts Receivables and Inventory under the Priorities Agreement dated September 11, 2023; described as the fulcrum creditor
- secured creditorsnote: Stated as 'approximately $557,000, with interest accruing'; the document gives no as-at date for this figure. · page: 3 · amount: 557000 · debtor: Sonic Enclosures Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Security over all present and after-acquired property and certain specified equipment and vehicles; priority over remaining assets (other than Accounts Receivables and Inventory) under the Priorities Agreement dated September 11, 2023
- secured creditorsnote: Ranks behind BDC and Accord; amount not stated. · page: 3 · debtor: Sonic Enclosures Ltd. · creditor: Color Compass Corporation · currency: CAD · security: Purported general security over all assets
- secured creditorsnote: Amount not stated. · page: 3 · debtor: Sonic Enclosures Ltd. · creditor: VW Credit Canada Inc. · currency: CAD · security: Security agreement for vehicle financing
- secured creditorsnote: Amount not stated. · page: 3 · debtor: Sonic Enclosures Ltd. · creditor: The Bank of Nova Scotia · currency: CAD · security: Security agreement for vehicle financing
- secured creditorsnote: Amount not stated. The draft order excludes an Audi RS Q8 motor vehicle from the Purchased Assets. · page: 3 · debtor: Sonic Enclosures Ltd. · creditor: Metro Motors Ltd. · currency: CAD · security: Security agreement for vehicle financing
- secured creditorsnote: Charge capped at an aggregate of $100,000 (a ceiling, not an incurred balance); first in the proposed distribution of net proceeds. · page: 3 · as of: 2026-09-02 · amount: 100000 · debtor: Sonic Enclosures Ltd. · creditor: Administration Charge beneficiaries (Proposal Trustee, its counsel, and Sonic's counsel) · currency: CAD · security: Admin Charge granted by the SISP Order
- unsecured creditorsnote: Stated none; regulatory/deemed-trust class. No as-at date given. · page: 3 · basis: Document states Sonic has no outstanding obligations to CRA; GST and source deduction obligations up to date · amount: 0 · debtor: Sonic Enclosures Ltd. · creditor: Canada Revenue Agency (GST and employee source deductions) · currency: CAD
- secured creditorsnote: Stated as the 'principal amount' of approved interim financing, not a drawn balance; lender not named. Court-ordered charge ranking ahead of Accord in the proposed distribution. · page: 4 · as of: 2026-09-02 · amount: 250000 · debtor: Sonic Enclosures Ltd. · creditor: Interim lender (DIP) – Interim Finance Charge · currency: CAD · security: Interim Finance Charge granted by the SISP Order
- financial positionnote: Sale context: APA purchase price $575,000 (subject to potential downward adjustment of approx. CAD$244,000 / USD$172,000); three other bids estimated net recoveries of approx. $200,000 to $305,000. Draft order and notice state that after Admin Charge and DIP, no creditor other than Accord Financial will obtain recovery. · page: 5 · basis: No balance sheet or statement of affairs stated; assets described qualitatively only (inventory, equipment, customer contracts, IP, goodwill, going-concern value; 28 items of heavy machinery) · scope: Sonic Enclosures Ltd. (single entity) · currency: CAD