British Columbia · CCAA
Notice of Application - Filed October 19, 2026
Application / notice of application · 19 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: Priority Claim; amount not stated, Monitor working with agencies to confirm. Quasi-governmental claim (sales tax). · page: 6 · creditor: Federal and provincial tax authorities (outstanding post-filing sales tax obligations) · currency: CAD
- secured creditorsnote: Amount not stated; Monitor intends to confirm through the claims process. Identified as a Priority Claim ranking ahead of the Syndicate. · page: 6 · creditor: BC Customers (lien claims) (Secured BC Customer Claims) · currency: CAD · security: Lien claims
- secured creditorsnote: Stated as $570,000 in respect of outstanding amounts to be paid to eligible employees under WEPPA; Priority Claim ranking ahead of the Syndicate. Total Priority Claims reserve up to $4.5 million. · page: 7 · amount: 570000 · creditor: Eligible employees (WEPPA obligations) · currency: CAD
- secured creditorsnote: Amount owing not stated; to be confirmed by the Monitor before distribution. Ranks ahead of the Syndicate as a Priority Claim. · page: 7 · debtor: Coast Limited Partnership · creditor: VIP Distributors Inc., operating as National Buying Associates (PMSI creditor) · currency: CAD · security: PMSI over Samsung inventory financed by VIP, under NBA Member Agreement; registered; notices appear to have been sent per Monitor's Counsel opinion
- secured creditorsnote: Stated as approximately $68.9 million owed, inclusive of the line of credit balance but excluding interest and expenses incurred to date. Monitor anticipates a significant shortfall for the Syndicate. Security not perfected in British Columbia against Coast Holdings Limited Partnership and Coast Holdings (GP) Ltd. (both Alberta entities; no recovered funds relate to them). Interim distribution proposed: $16.5M to the Syndicate from $23.5M available funds. · page: 8 · as of: 2026-04-15 · amount: 68900000 · debtor: Coast Wholesale Appliances Inc. and related Coast debtors · creditor: Bank of Montreal, as administrative agent for the syndicate of secured lenders (the Syndicate) · currency: CAD · security: Valid security over all present and after-acquired personal property of the Debtors (per Monitor's Counsel opinion); credit facilities in aggregate principal amount of $80 million (a facility size, not a balance)
- secured creditorsnote: Approximately $120,000 in invoices outstanding per the Debtors' books and records; claim and supporting invoices requested for validation, so unconfirmed. Sufficiency of PMSI notice ambiguous (sent by courier, not received by Agent; Agent does not contest). Ranks ahead of the Syndicate as a Priority Claim. · page: 8 · amount: 120000 · debtor: Coast Limited Partnership · creditor: Fisher & Paykel Appliances Canada, Inc. (PMSI creditor) · currency: CAD · security: PMSI over F&P inventory under Retail Dealer Agreement (Canada); registered only in British Columbia, so security only over assets supplied in BC (about $35,000 of the invoices relates to BC)
- counselMcCarthy Tétrault LLP