British Columbia · NOI
First Report of the Proposal Trustee
Court officer report · 28 August 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 filing7 verified
- secured creditorsnote: Referred to as the 'Accord Debt'; senior secured lender; intercompany agreement between Accord and BDC confirms priority of Accord Debt over BDC Debt; also provided post-filing Interim Financing Facility (see interim financing term sheet) · page: 6 · as of: NOI filing date · amount: 1937064 · debtor: Sonic Enclosures Ltd. · creditor: Accord Financial Canada Corp. · currency: CAD · security: General security agreement over all assets and undertakings of Sonic
- secured creditorsnote: Subordinate in priority to Accord Debt per intercompany agreement · page: 6 · as of: NOI filing date · amount: 580000 · debtor: Sonic Enclosures Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General security agreement over all assets and undertakings of Sonic
- secured creditorspage: 6 · as of: NOI filing date · amount: 50000 · debtor: Sonic Enclosures Ltd. · creditor: VW Credit Canada Inc. · currency: CAD · security: Registered charge over certain motor vehicles
- secured creditorsnote: Described as trade debt but holds a registration against the company; classified per document's own listing under secured items · page: 6 · as of: NOI filing date · amount: 17607 · debtor: Sonic Enclosures Ltd. · creditor: Color Compass · currency: CAD · security: Registration against the company for trade debt
- unsecured creditorsnote: Total liabilities of approximately $3,652,634 reported; secured/registered amounts total $2,584,671 (Accord $1,937,064 + BDC $580,000 + VW Credit $50,000 + Color Compass $17,607); remaining balance to unsecured trade creditors not separately quantified; document names no individual unsecured creditors · page: 6 · as of: NOI filing date · basis: Remaining debt primarily owed to unsecured trade creditors, per Company's books and records as reported by the Proposal Trustee · debtor: Sonic Enclosures Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- financial positionnote: Assets described only qualitatively (manufacturing contracts, equipment, inventory); no total asset figure stated. Historically generated annual sales in excess of $14 million (revenue, not asset figure). · page: 7 · as at: NOI filing date · basis: According to the Company's books and records, unaudited · scope: Sonic Enclosures Ltd. (entity level) · currency: CAD · total liabilities: 3652634
- sale outcometext: Sonic is seeking the approval of a SISP intended to solicit a purchase, refinancing or investment offer for all, or substantially all, of the assets, undertakings and property of the Company · scope: whole_business · status: process_approved