British Columbia · Interim receivership

First Report of the Interim Receiver

Court officer report · 1 November 2024

What we verified from this filing2 verified

secured creditorsnote: No outstanding balance stated in these pages; Stellex filed the Receivership Application on Oct 25, 2024 seeking appointment of FTI as receiver over all Rokstad Group assets · page: 4 · debtor: Rokstad Holdings Corporation, Rokstad Power (2018) Ltd., Rokstad Power Construction Services Ltd., Rokstad Power Transmission Services Ltd., Rokstad Power (Prairies) Ltd., Golden Ears Painting & Sandblasting (2018) Ltd., Plowe Power Systems (2018) Ltd. (the "Debtors") · creditor: Stellex Power Line Opco LLP (and 1501841 B.C. Ltd.) · currency: USD · security: Described as "senior secured lender"; holds enforcement/control rights over Debtors' deposit accounts pursuant to a Deposit Account Credit Agreement (DACA), exercised to sweep Bank of America accounts; acquired Canadian Western Bank's debt/credit facilities
secured creditorsnote: Referenced by Stellex's counsel alongside Stellex's credit agreements as an amount "due and owing, but not being paid" and excluded from ordinary course obligations; nature of security not specified in these pages · page: 13 · debtor: Debtors and/or Debtors' Affiliates · creditor: Crown Capital · currency: USD