British Columbia · NOI
Trustee's Report to Creditors
Court officer report · 12 June 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing21 verified
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA IN BANKRUPTCY & INSOLVENCY
- court file noB260311
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date8 May 2026
- statutory basisthe Bankruptcy and Insolvency Act
- secured creditorsnote: Deemed trust class; Trustee is still reviewing with CRA to confirm whether claim is a valid deemed trust claim - opinion pending · page: 5 · amount: 41000 · debtor: FHC Enterprises Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Claim related to payroll account withholdings
- secured creditorsnote: Approximate mortgage balance as reported · page: 6 · amount: 626874.37 · debtor: FHC Enterprises Ltd. · creditor: BMO · currency: CAD · security: Mortgage on 2058 Quilchena Ave, Merritt, BC
- secured creditorspage: 6 · as of: date of this report (June 12, 2026) · amount: 800000 · debtor: FHC Enterprises Ltd. · creditor: 167986 Canada Inc. · currency: CAD · security: Line of Credit Agreement dated February 19, 2026, secured against equity in Company's real estate portfolio
- secured creditorsnote: Related party by common control; forecast figure; claim specifically excluded from claiming in Proposal per Proposal terms; document also notes a separate $200,000 secured advance made post-NOI filing (page 3) for inventory purchases · page: 6 · as of: expected balance at time of vote on the Proposal · amount: 1700000 · debtor: FHC Enterprises Ltd. · creditor: 1007070 B.C. Ltd. (BC Ltd.) · currency: CAD · security: Registered security interest in Personal Property Registry securing advances for working capital
- secured creditorsnote: Approximate mortgage balance as reported · page: 6 · amount: 413723.21 · debtor: FHC Enterprises Ltd. · creditor: BDC · currency: CAD · security: Mortgage on 4613 50 St, Spirit River, AB
- secured creditorsnote: Company's senior secured creditor; debt unaffected by Proposal; figure is a forecast dependent on actual sales/profitability, not a fixed statement balance · page: 6 · as of: expected balance at time of voting on the Proposal · amount: 350000 · debtor: FHC Enterprises Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Revolving credit loan pursuant to Loan Agreement dated April 30, 2012, as amended/restated; subject to forbearance agreement requiring full repayment by June 30, 2026
- secured creditorsnote: Approximate mortgage balance as reported · page: 6 · amount: 307775 · debtor: FHC Enterprises Ltd. · creditor: CIBC · currency: CAD · security: Mortgage on 5044 49th Ave NW, Chetwynd, BC
- secured creditorsnote: Approximate mortgage balance as reported · page: 6 · amount: 547709 · debtor: FHC Enterprises Ltd. · creditor: Affinity Credit Union · currency: CAD · security: Mortgage on 210 1 Ave W, Meadow Lake, SK
- secured creditorsnote: Approximate mortgage balance as reported; separate mortgage from other Affinity Credit Union facility · page: 6 · amount: 300000 · debtor: FHC Enterprises Ltd. · creditor: Affinity Credit Union · currency: CAD · security: Mortgage on 605 9 St, Humboldt, SK
- secured creditorsnote: Approximate mortgage balance as reported · page: 6 · amount: 104741.68 · debtor: FHC Enterprises Ltd. · creditor: Envision Financial · currency: CAD · security: Mortgage on 9927 106 St, Westlock, AB
- secured creditorsnote: Approximate mortgage balance as reported; separate mortgage from other Envision Financial facility · page: 6 · amount: 114837.99 · debtor: FHC Enterprises Ltd. · creditor: Envision Financial · currency: CAD · security: Mortgage on 5415 Railway Ave, Boyle, AB
- secured creditorsnote: Regulatory/tax claim - Statutory Secured Creditor to be paid in full from Proposal Fund; Ministry may instead elect to file as unsecured/general creditor · page: 7 · as of: NOI filing date (May 8, 2026) · amount: 1000000 · debtor: FHC Enterprises Ltd. · creditor: His Majesty the King in Right of the Province of British Columbia (Ministry of Finance) - PST · currency: CAD · security: Financing statement registered in BC Personal Property Registry on April 9, 2026 re unremitted PST
- unsecured creditorsnote: Document names no individual unsecured creditors. After excluding the related-party claim of 1007070 BC Ltd. (~$1,700,000, specifically excluded from claiming in the Proposal), the Trustee estimates unsecured creditors eligible to claim at approximately $4,331,340 (matches Bankruptcy scenario total in Schedule A, page 10); the Proposal-scenario total in Schedule A is $4,051,561 (page 10) - these latter two figures are scenario-based estimates, not the SOA-reported total · page: 7 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 4432937 · debtor: FHC Enterprises Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Forecast figure applicable only under hypothetical bankruptcy scenario; Trustee states it is not aware of any preferred amounts currently owing to present or former employees · page: 9 · as of: May 8, 2026 (bankruptcy scenario forecast) · amount: 724000 · debtor: FHC Enterprises Ltd. · creditor: Employees (wages/vacation pay - preferred claim becoming secured charge in bankruptcy) · currency: CAD · security: Statutory secured charge over current assets under BIA in bankruptcy scenario
- recovery outcomeentries: basis: plan · quote: The claims of creditors expected to make this election are estimated to total $323,004, with estimated payments of $279,779. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: trustee · amount low: 279779 · amount high: 279779 · class label: General Creditors (proven claims exceeding $5,000, electing to reduce claim to $5,000) · claims amount: 323004 · interim final: unstated · claims qualifier: estimated; basis: plan · quote: Pursuant to the Proposal, General Creditors with proven claims of $5,000 or less will be paid in full. · pct of: proven_claims · outcome: paid_in_full · class key: unsecured · stated by: trustee · class label: General Creditors (proven claims of $5,000 or less) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: After payment of these claims, we estimate that approximately $2,522,000 will be available to the remaining General Creditors resulting in a dividend of approximately 62%. · pct of: unstated · outcome: distribution · pct low: 62 · pct high: 62 · class key: unsecured · stated by: trustee · amount low: 2522000 · amount high: 2522000 · class label: remaining General Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: After payment of the priority and secured claims, we estimate that approximately $1,271,000 will be available for distribution to General Creditors in a bankruptcy, resulting in an estimated dividend of approximately 29%. · pct of: unstated · outcome: distribution · pct low: 29 · pct high: 29 · class key: unsecured · stated by: trustee · amount low: 1271000 · amount high: 1271000 · class label: General Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Canada Revenue Agency (' CRA ') will be paid in full by the Trustee from the Proposal Fund within 6 months of Court Approval of the Proposal, for unremitted · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: trustee · class label: Canada Revenue Agency · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated · stated on: 2026-06-12 · table missing: