British Columbia · Receivership (court-appointed)
Receiver's First Report to Court filed May 4, 2026
Court officer report · 4 May 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 filing5 verified
- cash on handnote: Cash identified upon freezing corporate bank accounts and transferred to Receiver's trust account as of date of Report. · as at: 2026-05-04 · amount: 1050 · currency: CAD · qualifier: approximately
- financial positionnote: Components: Receivables 4,371,612; Property, Plant and Equipment 2,416,533; Inventory 2,392,249; Prepayments 1,800,223; Cash 1,145,809; Security Deposits 998,394; Total 13,124,820 (as stated). Receiver cautions books and records may be unverified and/or materially changed since reporting dates. Separately, appraisal dated October 2025 estimated fair market value of Lifetec's assets at approximately $7,377,500 (Major Assets $7,149,500; Secondary Assets $228,000). Liabilities: CRA outstanding source deductions approximately $952,028 (of which ~$418,409 deemed trust); RBC secured claim approximately $5,750,512 as at January 22, 2026; unsecured claims estimated aggregate approximately $19,290; H&S Truck & Trailer Repair Ltd. lien amount unknown. · as at: 2025-07-31 · basis: book value from Company's books and records, unaudited/unverified by Receiver · scope: entity - Lifetec Construction Group Inc. · currency: CAD · total assets: 13124820
- operational summaryLifetec ceased operations upon the Receiver's appointment on April 2, 2026; the Receiver has taken possession of assets, is pursuing collection of receivables, and is conducting a sale and investment solicitation process (SISP) for the tangible assets and/or business, coordinating with the receiver of two related, affiliated entities.
- report date4 May 2026
- report noFirst Report