British Columbia · NOI
Proposal Trustee's Sixth Report to Court dated October 9, 2025
Court officer report · 9 October 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 filing7 verified
- operational summaryThe Company remains operational (logging in northern BC) during the NOI proceedings and paid post-filing obligations in the ordinary course. Following a SISP, the Proposal Trustee recommends approving a ~$9.0M reverse vesting order sale to related party 1556275 BC Ltd. and converting the proceedings to CCAA to give the purchaser time to close.
- process resultsbids: 5 · ndas: 11 · note: 13 parties responded about completing NDAs; five bids received as at the Bid Selection Deadline · solicited: 219
- purchaser1556275 BC Ltd.; price: note: Net minimum guarantee for all of the assets; Auctioneer #1 also offered a cash offer of $5,262,417 · basis: cash · amount: 5150202 · sealed: false · currency: CAD · scope: all of the assets, by auction as agent/auctioneer · status: conditional_backup · name note: Auctioneer #1, whose net minimum guarantee proposal is the Backup Bid; end purchasers at auction would be unnamed · structure: auction · name source: operative · relationship: unstated
- report date9 October 2025
- report noSixth Report
- sale advisorAuctioneer #1; Auctioneer #2; Auctioneer #3
- sale outcometext: The Proposal Trustee recommends approval of 155Co's Superior Bid by RVO with Auctioneer #1's net minimum guarantee as Backup Bid; Court approval sought October 10, 2025 · scope: whole_business · status: pending_approval