British Columbia · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 4 April 2025
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 filing6 verified
- secured creditorsnote: Described as senior secured lender to the Debtors; no balance stated in this report · page: 6 · as of: Receivership Date (October 21, 2024) · debtor: Vicinity Motor Corp., Vicinity Motor (Bus) Corp., Vicinity Motor (Bus) USA Corp., Vicinity Motor Property, LLC · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Senior secured lender (specific security not detailed)
- secured creditorsnote: Described as senior secured lender to the Debtors; no balance stated in this report · page: 6 · as of: Receivership Date (October 21, 2024) · debtor: Vicinity Motor Corp., Vicinity Motor (Bus) Corp., Vicinity Motor (Bus) USA Corp., Vicinity Motor Property, LLC · creditor: Export Development Canada (EDC) · currency: CAD · security: Senior secured lender (specific security not detailed)
- process resultsbids: 10 · ndas: 25 · note: 10 offers received, two for en bloc transactions, from three strategics and seven auctioneers/asset purchasers · as of: 2025-02-24 · solicited: 91
- purchaserMcDougall Auctioneers Ltd.
- sale advisorMcDougall Auctioneers Ltd.; Windermere Real Estate
- sale outcometext: Receiver selected the Auction Agreement submitted by McDougall and is seeking Court approval · scope: parcel · status: pending_approval