British Columbia · CCAA
Third Report of the Monitor - Filed October 20, 2026
Court officer report · 20 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 filing7 verified
- secured creditorsnote: Outstanding balance not stated on the selected pages. Interim Facility of up to $2,000,000 (a DIP facility limit, not a balance) was never drawn (no advances made). Interim distribution amount of $16.5M is a proposed distribution, not a debt balance. · page: 3 · debtor: Coast Wholesale Appliances Inc., Coast Holdings (GP) Ltd., Coast Limited Partnership and Coast Holdings Limited Partnership · creditor: Bank of Montreal, as administrative agent for a syndicate of secured lenders (the Syndicate) · currency: CAD · security: Secured lender syndicate; the Syndicate is said to have been granted the Interim Lender's Charge as DIP lender. A proposed interim distribution of $16.5 million is sought in the application (per cash flow forecast notes), but the outstanding balance owed to the Syndicate is not stated on these pages.
- secured creditorsnote: Court-ordered charge; Final Reconciliation concluded and mutual release signed September 2, 2026, with the Debtors receiving a final payment of $1.52 million from Hilco; the charge is sought to be terminated. Not a balance owing by the Debtors. · page: 4 · debtor: Debtors · creditor: Hilco Canada Holdings, ULC (liquidation agent) · currency: CAD · security: Liquidation agent charge solely against Merchandise and Owned FF&E as security for amounts payable under the Agency Agreement
- secured creditorsnote: Figure is the forecast PMSI payment amount ($1,140K), not a confirmed claim balance; forecast assumes all PMSI claims are valid and enforceable, with proportionate recovery, subject to legal security review, potential cost allocation and Court approval. Not yet paid (timing difference). · page: 36 · amount: 1140000 · debtor: Debtors (Coast Wholesale Appliances Inc. et al.) · creditor: PMSI creditors (vendors asserting purchase money security interests in select inventory) · currency: CAD · security: Purchase money security interests in select inventory
- secured creditorsnote: Amount is the forecast distribution of $2,834K for unapplied Secured BC Customer deposits based on the Debtors' books and records after the liquidation sale; payment is subject to Court approval of the proposed claims process. Claims process to be approved. · page: 39 · amount: 2834000 · debtor: Debtors · creditor: Secured BC Customer deposit claimants (individual BC consumers with unapplied deposits; security interest under s. 75 BC Sale of Goods Act) · currency: CAD · security: Statutory security interest under s. 75 of the BC Sale of Goods Act, which takes priority over other security interests in the goods
- unsecured creditorsnote: Priority claim; $570K is a forecast distribution, not an adjudicated balance. Preferred/priority class, ranking ahead of ordinary unsecured. · page: 39 · basis: Forecast priority payments in respect of the Wage Earner Protection Program, previously approved by the Court · amount: 570000 · debtor: Debtors · creditor: WEPPA / employee priority claims (Wage Earner Protection Program) · currency: CAD
- unsecured creditorsnote: No amount stated for the claim. Landlord holds a security deposit of $51,863.41, reduced by $6,131.28 pro rata July rent to a Deposit Balance of $45,732.13, which the Monitor demands be paid over; Monitor asserts the landlord's interest in the deposit is an unperfected security interest (not PPSA registered) and would rank subordinate to registered secured creditors. Deposit claim is disputed in effect. · page: 48 · basis: Monitor's counsel letter: may be entitled to an unsecured claim as a result of the disclaimer of the lease; no recovery to unsecured creditors anticipated at this time · debtor: Coast Wholesale Appliances Inc. · creditor: CWA Holdings Ltd. (former landlord, Calgary South) - disclaimed lease · currency: CAD
- unsecured creditorsnote: No amount stated for the claim. Landlord holds a security deposit of $31,875.06, reduced by $3,894.73 pro rata July rent to a Deposit Balance of $27,980.33, which the Monitor demands be paid over; Monitor asserts the landlord's security interest is unperfected and subordinate. · page: 98 · basis: Monitor's counsel letter: may be entitled to an unsecured claim as a result of the disclaimer of the lease; no recovery to unsecured creditors anticipated at this time · debtor: Coast Wholesale Appliances Inc. · creditor: CWA Holdings Ltd. (former landlord, Coquitlam) - disclaimed lease · currency: CAD