British Columbia · Receivership (court-appointed)
Receiver's Second Report to Court
Court officer report · 10 November 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 filing13 verified · 1 withheld
- cash on handnote: Ending cash for distribution to the bankruptcy estate; elsewhere the report states ResidualCo holds $414,912 beyond allocated proceeds. · as at: 2026-10-30 · amount: 465000 · currency: CAD · qualifier: remaining cash balance, rounded ($000s table); of which $50k wind-down and ~$415k for Final Distribution
- closing confirmedscope: the seven SSM entities (RVO Subscription Agreement transaction) · outcome: completed · effective: 2026-04-16 · purchaser: 1578478 B.C. Ltd. · date basis: stated
- disbursementsnote: Total Receivership costs of $2,454k per the final statement of receipts and disbursements; operating costs were separately $8.6m (net operating cash flow $1.1m before Receivership costs of $2.5m). Distributions to priority and secured creditors totalled $25,926k. · since: October 31, 2025 · amount: 2454000 · currency: CAD
- insolvency professionalMorag Cooper
- insolvency professionalMorag Cooper
- lawyerDan Mosely
- operational summaryThe business was sold to the Purchaser via an RVO that closed April 16, 2026; the Receiver ceased day-to-day operations, transitioned systems and contracts, distributed sale proceeds to secured creditors, and now seeks discharge subject to the Final Distribution to ResidualCo's bankruptcy estate.
- professional feesnote: Comprises fees of $1,963,395, disbursements of $101,124 and taxes of $103,226. Receiver's counsel Osler fees total $236,652 (fees $207,833, disbursements $3,705, taxes $25,115). · party: PricewaterhouseCoopers Inc. (the Receiver) · amount: 2167745 · period: October 31, 2025 to November 2, 2026, including estimate to complete · currency: CAD
- receipts cumulativenote: Total operating receipts of $9,656k per the final statement of receipts and disbursements (operating sales $9.7m in text); separate from sale of assets of $27,500k. · since: October 31, 2025 (receivership date), operating receipts through October 30, 2026 · amount: 9656000 · currency: CAD
- recovery outcomeentries: basis: actual · quote: These payments satisfied all amounts owing to NBC and distributed all proceeds allocated to the Sidhu Loan's secured collateral, · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: NBC · creditor name: NBC · interim final: unstated · claims qualifier: unstated · stated on: 2026-11-10 · table missing:
- report date10 November 2026
- report noSecond Report
- sale outcometext: The Transaction under the RVO Subscription Agreement closed on April 16, 2026; the seven SSM entities were acquired by the Purchaser and ResidualCo was assigned into bankruptcy effective April 22, 2026. · scope: whole_business · status: closed
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.