British Columbia · CCAA
Ninth Report of the Monitor
Court officer report · 29 January 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 filing11 verified
- cash on handnote: Closing balance of the BCTF/GSC Monitor Account per the budget-vs-actual table (C$000s); this is the Monitor's trust account balance, not the Petitioners' own operating cash. Separately, the CIBC overdraft facility closed at 91 (C$000s) drawn. · as at: 2025-01-19 · amount: 1438 · currency: CAD · qualifier: in C$000s, i.e. approximately $1.438 million
- closing confirmedscope: 1200 Waddington Drive, Vernon, B.C. · outcome: completed · effective: 2024-10-11 · purchaser: Stonemark Investments Ltd. · date basis: stated · approval order date: 2024-10-04; scope: commercial chemical and fertilizer inventory · outcome: completed · effective: 2024-10-17 · purchaser: TerraLink Horticulture Inc. · date basis: stated · approval order date: 2024-10-04; scope: 880 Vaughan Avenue, Kelowna, B.C. · outcome: completed · effective: 2024-12-11 · date basis: stated · approval order date: 2024-11-27; scope: 9718 Bottom Wood Lake Road, Creston, B.C. · outcome: completed · effective: 2024-12-11 · date basis: stated · approval order date: 2024-11-27; scope: 754 35th Avenue, Erickson, B.C. · outcome: completed · effective: 2025-01-27 · date basis: stated · approval order date: 2025-01-10
- disbursementsnote: Total operating disbursements in C$000s for Dec 2, 2024 to Jan 19, 2025; total CCAA disbursements were an additional 573 (C$000s). Period figure within the Reporting Period, not since the CCAA filing date. · since: 2024-12-02 (start of the Reporting Period; the table is labelled 'Cumulative') · amount: 1112 · currency: CAD
- operational summaryThe BCTF Group is winding down: it is liquidating remaining assets (equipment, properties, bins) and collecting aged receivables and rent with a reduced workforce, and is seeking replacement interim financing from Pillar plus a stay extension to August 29, 2025.
- professional feesnote: Actual professional fees disbursed in the Reporting Period (C$000s), $41,000 higher than the forecast of 500 due to timing differences. Forecast professional fees for Jan 20 - Aug 31, 2025 are approximately $1.6 million (1,577 in C$000s). No tax treatment is stated. · party: Petitioners' CCAA professionals (counsel for the Petitioners, the Monitor and its counsel, and CIBC's counsel and financial advisor) · amount: 541 · period: 2024-12-02 to 2025-01-19 · currency: CAD
- purchaserStonemark Investments Ltd.; TerraLink Horticulture Inc.; price: sealed: false · scope: 2605 Acland Road, Kelowna, B.C. · status: approved · name note: purchaser of the Acland Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: 880 Vaughan Avenue, Kelowna, B.C. · status: closed · name note: purchaser of the Vaughan Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: 9718 Bottom Wood Lake Road, Creston, B.C. · status: closed · name note: purchaser of the Lake Country Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: 754 35th Avenue, Erickson, B.C. · status: closed · name note: purchaser of the Creston Property, unnamed · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Total operating receipts (AR collections and rent receipts) in C$000s for the period Dec 2, 2024 to Jan 19, 2025. Separately, other receipts (asset sales etc.) totaled 36,125 (C$000s), i.e. $36.1 million, in the same period. This is a period figure within the Reporting Period, not since the CCAA filing date. · since: 2024-12-02 (start of the Reporting Period; the table is labelled 'Cumulative') · amount: 1507 · currency: CAD
- report date29 January 2025
- report noNinth Report
- sale advisorMaynards Industries II Canada Ltd.; Maynards Liquidation Group Inc.
- sale outcometext: Multiple property and asset sales closed; equipment auction completed; remaining assets and brokerage-listed property continue to be marketed · scope: liquidation · status: liquidation_in_progress