British Columbia · Receivership (court-appointed)
Notice of Application
Application / notice of application · 3 September 2026
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What we verified from this filing6 verified
- secured creditorsnote: Amount owing not stated in this excerpt (Liabilities section left blank at para 20(a)(i)); guaranteed by EFP and 133 (related companies) and personally guaranteed by Mr. Chimayt (director/principal, personal guarantee). Security opinion confirmed valid and enforceable by independent legal counsel. Roynat expected to suffer significant shortfall. · page: 3 · debtor: 1385954 B.C. Ltd. (138), with guarantees from Elykwood Forest Products Ltd. and 1337073 B.C. Ltd. · creditor: Roynat Inc. · currency: CAD · security: General security agreement (first-ranking over present and after-acquired personal property of 138); mortgage and assignment of rents registered against the Lands; assignment of insurance. Term loan facility principal amount of $7.0 million (original advance, not a stated balance).
- secured creditorsnote: Amount owing not stated in this excerpt; equipment sale generated only $2,513 gross proceeds and, after costs, no funds available for distribution to RBC. · page: 7 · debtor: Elykwood Forest Products Ltd. (EFP) · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement (GSA) over EFP's personal property/equipment.
- unsecured creditorsnote: Deemed trust class claim (CRA) · page: 7 · basis: Receiver's First Report to Court, Liabilities section, stated as CRA payables · amount: 1995834.87 · debtor: 1385954 B.C. Ltd., Elykwood Forest Products Ltd. and 1337073 B.C. Ltd. (Debtors, combined) · creditor: Canada Revenue Agency (CRA) · currency: CAD
- unsecured creditorsnote: No aggregate figure or individual creditor names given; Receiver states no distribution is expected to any unsecured creditor. · page: 7 · basis: Receiver's First Report to Court, Liabilities section, described as 'various notices of unsecured claims from creditors' · debtor: 1385954 B.C. Ltd., Elykwood Forest Products Ltd. and 1337073 B.C. Ltd. (Debtors, combined) · creditor: Various unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Ranks ahead of Roynat's security as a priority claim (para 42(a)); described as 'approximately' in the report. · page: 11 · as of: 2026-07-29 · amount: 271208.36 · debtor: 1385954 B.C. Ltd. · creditor: Municipal property tax authority (Township of Langley) re: outstanding property taxes on the Lands · currency: CAD · security: Statutory priority charge on the Lands for unpaid property taxes
- recovery outcomeentries: basis: estimated · quote: Roynat is expected to suffer a significant shortfall on the amounts owing to it, and accordingly, there will be no distribution to any unsecured creditor. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Roynat · creditor name: Roynat · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Roynat is expected to suffer a significant shortfall on the amounts owing to it, and accordingly, there will be no distribution to any unsecured creditor. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: any unsecured creditor · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: However, after accounting for costs associated with realizing on the equipment, no funds will be available for distribution to RBC. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: RBC · creditor name: RBC · interim final: unstated · claims qualifier: unstated · table missing: