British Columbia · CCAA
Notice of Application - Filed October 20, 2026
Application / notice of application · 20 October 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 filing9 verified
- secured creditorsnote: Priority Claim; Monitor intends to confirm through the claims process; amount not stated. · page: 6 · creditor: BC Customers with lien claims (Secured BC Customer Claims) · currency: CAD · security: Lien claims
- unsecured creditorsnote: Amount not stated; Monitor continuing to work with provincial and federal agencies to confirm. Part of up to $4.5 million retained for all Priority Claims. · page: 6 · basis: Outstanding post-filing sales tax obligations, regulatory/statutory priority claim ranking ahead of the Syndicate · creditor: Federal and provincial tax authorities (Outstanding Tax Obligations) · currency: CAD
- unsecured creditorsnote: No amounts stated; Monitor anticipates no funds will be available for distribution to the Debtors' unsecured creditors. · page: 6 · basis: Monitor's view · creditor: Unsecured creditors (general) · currency: CAD
- secured creditorsnote: Outstanding PMSI obligation; amount not stated and still to be confirmed by the Monitor. Ranks in priority to the Syndicate (a 'Priority Claim'). · page: 7 · debtor: Coast Limited Partnership · creditor: VIP Distributors Inc. o/a National Buying Associates (VIP) · currency: CAD · security: PMSI over Samsung inventory supplied by Samsung and financed by VIP under the NBA Member Agreement – Merchandise; security interest registered and notices appear to have been sent (Monitor's Counsel opinion, subject to standard qualifications).
- unsecured creditorsnote: Statutory priority claim ranking ahead of the Syndicate's security; stated figure $570,000. · page: 7 · basis: Monitor's identified Priority Claim: outstanding amounts to be paid to eligible employees under WEPPA · amount: 570000 · creditor: Eligible employees (Outstanding WEPPA Obligations) · currency: CAD
- secured creditorsnote: Per Debtors' books and records approximately $120,000 in invoices outstanding for product delivered in Canada, of which only $35,000 shipped to and delivered within BC; F&P's claim not yet validated (supporting invoices requested). The Agent was sent notice by courier, not received; sufficiency of notice ambiguous, but the Agent does not contest it. Priority Claim; amount to be confirmed. · page: 8 · debtor: Coast Limited Partnership · creditor: Fisher & Paykel Appliances Canada, Inc. (F&P) · currency: CAD · security: PMSI over F&P inventory supplied and financed by F&P under the Retail Dealer Agreement (Canada); registered in British Columbia only, so security covers only assets supplied in BC.
- secured creditorsnote: Amount is 'approximately $68.9 million inclusive of the line of credit balance but excluding interest and expenses incurred to date'. Security not perfected in British Columbia against Coast Holdings Limited Partnership and Coast Holdings (GP) Ltd. (Alberta holding entities; no recovered funds relate to them). Monitor expects a significant shortfall to the Syndicate. · page: 8 · as of: 2026-04-15 · amount: 68900000 · debtor: Coast Wholesale Appliances Inc., Coast Holdings (GP) Ltd., Coast Limited Partnership, Coast Holdings Limited Partnership (the Debtors) · creditor: Bank of Montreal, as administrative agent for the Syndicate of secured lenders · currency: CAD · security: Valid security over all present and after-acquired personal property of the Debtors (per Monitor's Counsel opinion, subject to customary qualifications); senior secured creditor ranking ahead of all parties other than those carved out. Credit facilities established in aggregate principal amount of $80 million (facility limit, not a balance).
- counselMcCarthy Tétrault LLP
- recovery outcomeentries: basis: estimated · quote: the Monitor is of the view that the Syndicate will suffer a significant shortfall on the outstanding indebtedness owed by the Debtors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Syndicate (secured indebtedness) · creditor name: Syndicate · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: it is anticipated that no funds will be available for distribution to the Debtors' unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Debtors' unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing: