British Columbia · CCAA
Filed Thirty-Second Report of the Monitor, dated October 6, 2026
Court officer report · 6 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 filing11 verified
- secured creditorsnote: Amount not stated on these pages. · page: 4 · creditor: BAL Global Finance Canada Corporation and Bank of America Leasing and Capital, LLC (BoA) · currency: CAD · security: Equipment liens on the BoA Equipment, recognized by the SARIO (para. 43) as subordinate only to the Administration Charge; Interim Lenders' Charge has priority on the Overlapping Equipment.
- secured creditorsnote: Post-filing interim (DIP) financing, not pre-filing debt. Ending DIP balance per variance analysis (CAD 000's: 58,421); Monitor's text states approximately $58.4 million. Interest on the facilities approximately $230,000 per week. Forecast DIP borrowings of approximately $63.7 million at November 27, 2026 are a forecast, not a balance. Borrowing base collateral approx. $23.8 million, shortfall approx. $34.6 million, within the permitted over-advance. · page: 22 · as of: 2026-09-18 · amount: 58421000 · debtor: The Teal Jones Group (Petitioners) · creditor: Interim Lenders (Wells Fargo Capital Finance Corporation Canada and Export Development Canada) - Interim Financing Facility (DIP) · currency: CAD · security: Interim Lenders' Charge: super-priority charge on property, assets and undertakings of the Petitioners, in the amount of $116,509,000 plus interest, fees, costs and other expenses under the Support Agreement (a charge ceiling, not the balance). Current maximum facility limit not stated; proposed amended limit $65.0 million; maturity currently October 15, 2026, proposed November 27, 2026.
- secured creditorsnote: Pre-filing term loans are referenced (interest payable on pre-filing term loans in the forecast; Term Lenders named as respondents on p.13); no balance or security details stated on these pages. Note on p.34 also refers to the DIP Lenders' term debt. · page: 24 · creditor: Term Lenders (pre-filing term loans) · currency: CAD
- closing confirmedscope: the transaction approved by the Parcel 1 Approval and Vesting Order (equity interest in Teal Jones Louisiana Holdings, LLC) · outcome: completed · date basis: unstated · approval order date: 2025-04-15; scope: the transaction approved by the Parcels 2 and 5 Approval and Vesting Order (Antlers and Greentree mills) · outcome: completed · date basis: unstated · approval order date: 2025-03-25; scope: Parcels 3 and 4 · outcome: not_completed · purchaser: Mercury Merchant LLC · date basis: unstated
- operational summaryThe Group continues to operate its Surrey mill under the Interim Financing Facility while awaiting Competition Bureau review (the only remaining closing condition) of the court-approved sale of substantially all remaining assets (SPA with Gillfor/Surrey Buyer and Sumas APA). After closing, the Monitor will realize on limited excluded assets such as an income tax refund, certain receivables and inventory.
- professional feesnote: Actual professional fee payments in the variance analysis (CAD 000's: 419) vs forecast 600; lower than forecast due to timing of payments. Forecast period professional fees are approximately $3.4 million. · party: Professional fees paid by the Group (Debtors' counsel, Monitor, Monitor's counsel, DIP Lenders' counsel) in the Reporting Period · amount: 419000 · period: August 22, 2026 to September 18, 2026 · currency: CAD
- purchaserGillfor Manufacturing Inc.; Northcoast Forest Products Limited, LLC; Mercury Merchant LLC; Giving Tree Lumber LLC; Chicago Flameproof and Wood Specialties Corp.; RJS Used Equipment Ltd.
- report date6 October 2026
- report noThirty-Second Report
- sale advisorGA Wholesale & Industrial Solutions, LLC
- sale outcometext: Court approved the SPA (by RVO) and Sumas APA (by AVO) on September 18, 2026, contemplating sale of all remaining SISP assets; closing awaits Competition Bureau clearance · scope: whole_business · status: approved