British Columbia · NOI
First Report of the Proposal Trustee
Court officer report · 12 February 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 filing13 verified · 1 withheld
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- appointeeMNP Ltd.
- appointee roletrustee
- commencement date16 January 2026
- statutory basissubsection 50.4(1) of the Bankruptcy and Insolvency Act
- financial positionnote: Assets are stated as book value at December 31, 2025 (page 9); liabilities are stated as valued on or around the NOI Filing Date, January 16, 2026 (page 10) - the two sides of this financial position carry different as-at dates. · page: 9 · as at: 2025-12-31 · basis: Book value (assets, unaudited management information); liabilities valued on or around the NOI Filing Date, unaudited · scope: Canwest Tanks & Ecological Systems Ltd. (single entity, non-consolidated) · currency: CAD · total assets: 23371414 · total liabilities: 17330817
- secured creditorsnote: Prose approximates this as '$5.4 million' (para 34), combined with TD Line of Credit for an approximate total of $6.6 million. Guaranteed personally by Jon Eaton (CEO) and by 2J Canyon Ranches Corp (related-party entity) under a Pre-Filing Credit Agreement dated October 3, 2025 (see DIP Agreement recitals, original p.27). · page: 10 · as of: NOI Filing Date · amount: 5434375 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: The Toronto-Dominion Bank (TD) - Term Loan · currency: CAD · security: General security agreement over all assets of the Company
- secured creditorsnote: Aggregates Mitsubishi HC Capital ($56,191) and Toyota Industries ($28,710); described as leased assets, secured 'to a lesser extent' per para 36. · page: 10 · as of: NOI Filing Date · amount: 84901 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: PPSA equipment financiers (PMSI class) - Mitsubishi HC Capital Canada Leasing, Inc. and Toyota Industries Commercial Finance Canada, Inc. · currency: CAD · security: Security over leased/financed equipment (PMSI-type)
- secured creditorsnote: Loan Agreement dated October 17, 2021, per representations in the DIP Financing Agreement (original p.31). · page: 10 · as of: NOI Filing Date · amount: 3000000 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: FWCU Capital Corp. · currency: CAD · security: General security agreement over the Company's assets
- secured creditorsnote: Prose approximates this as '$1.2 million' (para 34). TD crystallized the line of credit as of the NOI Filing Date, after which it functioned as a standard bank account (para 46). · page: 10 · as of: NOI Filing Date · amount: 1182974 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: The Toronto-Dominion Bank (TD) - Line of Credit · currency: CAD · security: General security agreement over all assets of the Company
- unsecured creditorsnote: Vendor take-back financing from the 2021 Purchase; original VTB Loans were replaced on June 29, 2022 by VTB Notes in the amounts of $1,464,681 and $1,524,464 respectively; table amount includes accrued interest. Related party (Former Owners of the Company). · page: 10 · as of: NOI Filing Date · basis: Liabilities summary valued on or around the NOI Filing Date · amount: 3667468 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: VTB Loans - certain Former Owners (Mitch Gordic/Estate, Mike Gordic, Miladin Gordic Family Trust, Mitch and Clara Gordic Family Trust) · currency: CAD
- unsecured creditorsnote: Related party - company controlled by Jon Eaton, CEO of the Company. Also a guarantor under the Pre-Filing Credit Agreement with TD dated October 3, 2025. · page: 10 · as of: NOI Filing Date · basis: Liabilities summary valued on or around the NOI Filing Date · amount: 3100000 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: 2J Canyon Ranches Corp · currency: CAD
- unsecured creditorsnote: Document names no individual trade creditors in this summary; a separate detailed list of creditors was prepared by the Trustee and posted to its website but is not reproduced in this report (para 25(iii)). · page: 10 · as of: NOI Filing Date · basis: Liabilities summary valued on or around the NOI Filing Date · amount: 861099 · debtor: Canwest Tanks & Ecological Systems Ltd. · creditor: Unsecured trade and other creditors (aggregate as reported) · currency: CAD
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.