British Columbia · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 26 February 2026
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What we verified from this filing6 verified
- unsecured creditorsnote: Stated as 'estimated'. This is a First Report of the Receiver (Ernst & Young Inc.), not a statement of affairs; the figure is recited as an event of default. As-of is the Termination Date, late January 31, 2025. · page: 10 · as of: 2025-01-31 · basis: Amount owing per Receiver's First Report — the 'Payment Default': a required payment owing to the MF Insurers in respect of commissions owing under the MF Policies that Stratford did not make on the Termination Date · amount: 1469100 · debtor: Stratford Underwriting Agency Inc. · creditor: MF Insurers (Four Points Insurance Company Ltd. and The Mutual Fire Insurance Company of British Columbia) · currency: CAD
- unsecured creditorsnote: Distinct amount from the $1,469,100 Payment Default, owing to the same MF Insurers. Recited as an event of default in a First Report of the Receiver, not a statement of affairs. · page: 11 · as of: 2025-02-28 · basis: Amount payable to the MF Insurers per Receiver's First Report — a 'further' amount payable on February 28, 2025 that was not paid · amount: 861939 · debtor: Stratford Underwriting Agency Inc. · creditor: MF Insurers (Four Points Insurance Company Ltd. and The Mutual Fire Insurance Company of British Columbia) · currency: CAD
- unsecured creditorsnote: No aggregate dollar amount stated — a count of approximately 200 unpaid invoices as at the events of default (late January 2025). Individual creditors not named. · page: 11 · basis: Approximately 200 invoices for claim work performed by autobody shops and other service providers remained unpaid, per Receiver's First Report; funds for these had been provided to Stratford by the Insurers · debtor: Stratford Underwriting Agency Inc. · creditor: Autobody shops and other service providers (approximately 200 unpaid invoices; individual creditors not named) · currency: CAD
- unsecured creditorsnote: Disputed — the Receiver seeks to set aside the Default Judgment Order, which was granted after the receivership stay of proceedings was in effect. Amount not stated (damages and costs to be assessed). Individual, not a company. · page: 22 · as of: 2025-05-25 · basis: Litigation claim for alleged breach of contract (the 'CEO Claim'); default judgment granted in favour of the CEO on May 25, 2025 with damages and costs to be assessed · debtor: Stratford Underwriting Agency Inc. · creditor: Former CEO of Stratford (individual; name not stated in the report) · currency: CAD
- financial positionnote: The Receiver states it is 'not currently aware of any secured creditor claims or other priority claims over the co-mingled funds from the Stratford Accounts to be used to pay the Initial Distribution' (para 77, page 25) — a qualified statement limited to that fund pool, hence secured_creditors recorded as null rather than an empty array. The Insurers are estimated to have directly incurred and paid approximately $4,000,000 in out-of-pocket costs to October 31, 2025 (page 25) and to incur further substantial losses; both Insurers intend to commence errors & omissions claims against Stratford's E&O policy with Chubb (page 28). Receivership cash on hand at February 19, 2026 was $7,022,025 (page 24) — receivership proceeds (Stratford account balances plus ICBC subrogation recoveries), not the debtor's pre-filing assets. All amounts in Canadian Dollars (para 14). · page: 25 · basis: First Report of the Receiver (Ernst & Young Inc. as court-appointed receiver of Stratford Underwriting Agency Inc.); no statement of affairs or balance sheet presented — no total assets or total liabilities stated · scope: Stratford Underwriting Agency Inc. (respondent in receivership proceedings, Supreme Court of British Columbia, No. S-251313) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The Receiver proposes an Initial Distribution in the total amount of $1,528,454 ($2,278,454 - $750,000) to be paid to the Insurers from the co-mingled funds in the Stratford Accounts that the Receiver has taken possession of. · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 1528454 · amount high: 1528454 · class label: the Insurers · creditor name: Insurers (MF Insurers and EVCAN) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: $1,186,430 to the MF Insurers; and · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 1186430 · amount high: 1186430 · class label: the MF Insurers · creditor name: MF Insurers · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: $3,432,404 to EVCAN. · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 3432404 · amount high: 3432404 · class label: EVCAN · creditor name: EVCAN · interim final: unstated · claims qualifier: unstated · stated on: 2026-02-25 · table missing: