Maverick Estate Winery: $2,330,000 for the winery, the Crux Vineyard excluded

On October 23, Justice J.M. Gropper of the Supreme Court of British Columbia approved the receiver's sale of Maverick Estate Winery, an 11-acre property in Oliver with a tasting room, two detached homes, a modular home and seven acres of planted vines, to 1605274 B.C. Ltd. The agreement attached to the receiver's First Report of October 9 priced it at $2,050,000. The order approves that agreement "as amended by an Amendment to Agreement of Purchase and Sale dated as of October 23, 2026," attached as Schedule "G," which replaces the $2,050,000 with $2,330,000, adds a $50,000 deposit "for a total Deposit of $250,000," and allocates $1,535,470 of the price to land and $794,530 to building, per the Approval and Vesting Order, Oct. 23, 2026, para. 1; Sch. G, s. 3 and the First Report of the Receiver, Oct. 9, 2026, s. 1.0, para. 1(a); s. 6.3, para. 2(f).

The vesting order recites that the receiver's application came on for hearing on October 19, "with reasons reserved to this date"; those reasons are not among the filings. No document in the record says why the price changed; the amendment recites that the purchaser and the receiver "have agreed to amend the Purchase Agreement" and sets out the new terms, per the Approval and Vesting Order, p. 1; Sch. G, recital B. The same day the judge made a distribution order and a sealing order.

What the order vests

Besides the lands and buildings, the purchaser takes the equipment, inventory, intellectual property, permits and licences, "including the Winery License, to the extent transferable," the business records and the manufactured homes, free of claims once the receiver delivers its certificate. RBC's 2020 mortgage and assignment of rents come off title, and the receiver may hand the purchaser "all customer, wine club membership and other personal information forming part of the Business Records," per the Approval and Vesting Order, paras. 2–3, 7; Schs. C–D and RBC's notice of application, returnable Apr. 1, 2026, Part 2, para. 8. The agreement excludes the Crux Vineyard, the storage warehouse lease and every contract but two, those of the sales manager and the vineyard manager, and commits the receiver to have both companies drop "Maverick" from their corporate names after closing, per the First Report, s. 6.3, para. 2(c)(vii), (d), (k).

RBC, fourth in line

The distribution and ancillary order authorizes and directs the receiver, subject to any holdbacks it considers necessary or appropriate for priority claims or to fund the proceedings, to pay the net proceeds first in repayment of its borrowings under the receivership order, second in payment of outstanding property taxes, third for the compensation owing to Colliers Macaulay Nicolls Inc., the listing broker, and fourth to Royal Bank of Canada, "up to the RBC Indebtedness (as defined in the First Report)," per the Distribution and Ancillary Order, Oct. 23, 2026, para. 3. Those borrowings came from RBC as well: the receiver reports that it has borrowed $400,000 from the bank, the ceiling the receivership order set, per the Receivership Order, Apr. 1, 2026, para. 23 and the First Report, s. 4.2, para. 2.

The RBC Indebtedness was approximately $6,606,525 at the receiver's appointment, with interest and costs continuing to accrue. RBC, "the party with the primary economic interest in the Assets, supports the Transaction," the receiver told the court. Behind the bank, the receiver understands, sit shareholder loans of approximately $7.21 million at its appointment, owed to the two individuals who were then the companies' directors and shareholders, secured and subordinate to RBC; its counsel has not completed a full review of that security, per the First Report, s. 2.0, para. 1; s. 3.1, para. 2; s. 3.2, paras. 1(a), 2; s. 6.4, para. 1(k). The receiver's application says that one of the two, "also the representative of the second secured creditor," supported the sale, per the Receiver's notice of application, Oct. 9, 2026, Part 3, para. 8(b). The order also approves the receiver's activities and the fees of the receiver and its counsel, and makes the distributions binding on any trustee in bankruptcy, per the Distribution and Ancillary Order, paras. 1–2, 4.

Two listings, then a receiver

The two companies, Maverick Estate Winery Inc. and Maverick Vineyards Inc., ran what the receiver calls "a boutique winery business," selling through the tasting room, a wine club, direct sales and liquor distributors, per the First Report, s. 2.0, para. 3. RBC's affidavit says that since mid-2025 "or earlier" they had been unable to generate enough revenue to meet operating expenses; by late 2025 or early 2026 the operating line had reached its $450,000 limit, and one of the term loans matured on December 1, 2025 and could not be repaid, per the RBC affidavit, Mar. 16, 2026, paras. 23–24, 27.