British Columbia · Receivership (court-appointed)
Notice of Application - Re Sale Approval and Purchase Agreement
Application / notice of application · 16 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 filing6 verified
- secured creditorsnote: Amount is the receiver's estimate based on information provided by the Primary Secured Creditors. Earlier figure: indebtedness of $29,633,580.68 as at February 4, 2026, plus interest, fees and other amounts accrued (Affidavit #1 of Lawrence Lee, March 16, 2026). Security opinion on BDC's security was instructed from Receiver's Counsel (outcome stated only for RBC). · page: 14 · as of: date of the Second Report (October 14, 2026) · amount: 23672499 · debtor: The Companies (Evo Industrial, 347, Evo Tunes, Heavin, KPD, Black Bandit) · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General security agreement and mortgage security against certain real property of the Companies; ranks subsequent to RBC and BNS over the assets subject to their respective security
- secured creditorsnote: Refresh Evolution Vancouver Ltd. is not a petitioner in these proceedings. Receiver's estimate based on information from the Primary Secured Creditors. · page: 14 · as of: date of the Second Report (October 14, 2026) · amount: 271051 · debtor: Evo Tunes Inc. and Black Bandit Industries Inc. (as guarantors of Refresh Evolution Vancouver Ltd.) · creditor: Royal Bank of Canada (RBC) - Refresh Guarantee · currency: CAD · security: Obligations under a secured corporate guarantee granted by the RBC Secured Debtors as security for indebtedness owing by Refresh Evolution Vancouver Ltd. to RBC; secured by RBC's first-registered GSA
- secured creditorsnote: Receiver's estimate based on information from the Primary Secured Creditors. Receiver's Counsel advised that, subject to customary assumptions, qualifications and reservations, RBC's security is valid and enforceable against the Receiver. · page: 14 · as of: date of the Second Report (October 14, 2026) · amount: 643715 · debtor: Evo Tunes Inc. and Black Bandit Industries Inc. (the RBC Secured Debtors) · creditor: Royal Bank of Canada (RBC) - Debtors · currency: CAD · security: First-registered general security agreement over the assets and undertakings of the RBC Secured Debtors, together with certain equipment financing security relating to financed equipment
- secured creditorsnote: Receiver's estimate based on information from the Primary Secured Creditors. Security opinion pending: the Receiver will obtain an independent security opinion on BNS's mortgage prior to any distribution to BNS. · page: 15 · as of: date of the Second Report (October 14, 2026) · amount: 1162864 · debtor: The Companies (mortgage over the Vancouver Condo) · creditor: Bank of Nova Scotia (BNS) · currency: CAD · security: First-ranking mortgage over the condominium unit at 3902-1151 West Georgia Street, Vancouver, BC (the Vancouver Condo)
- unsecured creditorsnote: Quasi-governmental/regulatory (Crown) claim; the Receiver is not aware of any deemed trust claim from unremitted source deductions ranking ahead of the secured claims. Receiver has assigned Evo Industrial and Heavin Holdings, the debtor entities responsible for the GST liabilities, into bankruptcy. Receiver continues to work with CRA on outstanding tax matters and trust audits. · page: 15 · as of: date of the Second Report (October 14, 2026) · basis: CRA advised approximately $152,215 owing in respect of GST obligations of the Companies · amount: 152215 · debtor: Evo Industrial Ltd. and Heavin Holdings Inc. · creditor: Canada Revenue Agency (GST obligations) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: no prejudice is likely to arise as a result of making an interim distribution in the full amount of RBC's claim that is in priority to BDC, and in partial satisfaction of BDC's claim. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: RBC (indebtedness secured by its security interests that rank in priority to the security held by BDC) · creditor name: RBC · interim final: interim · conditional on: Court approval of the Interim Distribution and completion of the Transaction · claims qualifier: unstated · stated on: 2026-10-14 · table missing: