British Columbia · Receivership (court-appointed)
Receiver's First Report to the Court dated August 27, 2026
Court officer report · 27 August 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 filing8 verified
- cash on handnote: Projected to be a deficit of approximately $211 as at September 2, 2026 (Projected Trust Deficit). Separately, $2,594 in cash from the Real Properties is listed among the Company's assets. · as at: 2026-08-24 · amount: 40893.06 · currency: CAD · qualifier: actual estate balance
- disbursementsnote: Excludes fees and disbursements of the Receiver and BLG. Much was incurred securing and preserving the Real Properties. · since: June 16, 2026 (reporting period to August 24, 2026) · amount: 63236.49 · currency: CAD
- operational summaryThe Receiver ceased the retail liquor business on taking possession, terminated about ten employees, and is administering the property rental business on an interim basis. It is collecting rents, addressing tenant complaints about building conditions, and preparing a potential sale process while the Company's discharge application is pending.
- professional feesnote: Includes fees of $208,946.12, disbursements of $6,933.48 and GST of $10,745.23. Further unbilled WIP of $8,821.38 plus GST (Aug 16-24, 2026) and approx. $11,500 plus GST estimated through discharge. Receiver's counsel BLG: $37,004.44 invoiced through August 21, 2026 (fees $33,006.00, disbursements $36.98, GST/PST $3,961.46), plus approx. $18,000 plus taxes estimated through discharge. Neither the Receiver nor BLG has been paid. · party: Grant Thornton Limited (Receiver) · amount: 226624.83 · period: work prior to and following appointment, through August 15, 2026 · currency: CAD
- receipts cumulativenote: Includes $50,000 advanced under the Receiver's borrowing authority. · since: June 16, 2026 (reporting period to August 24, 2026) · amount: 104129.55 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Based on the Receiver's Analysis, the Receiver is of the view that the Funds for Dissis n (d on sn D o sto satisfy the identified potential priority and secured claims, resulting in a potential shortfall of approximately $197,000, which will continue to increase with accruing interest, costs and professional fees. · pct of: unstated · outcome: shortfall · class key: deemed_trust · stated by: receiver · class label: identified potential priority and secured claims (RBC, CRA, the City of Courtenay, Olympia Trust, and the Receiver and its counsel) · interim final: unstated · conditional on: shortfall will continue to increase with accruing interest, costs and professional fees · claims qualifier: unstated · shortfall amount: 197000 · stated on: 2026-08-27 · table missing:
- report date27 August 2026
- report noFirst Report