Vic Van Isle Construction Ltd., VVI Construction Ltd., and Lortap Enterprises Ltd.

On December 2, 2022, pursuant to an Order of the Supreme Court of British Columbia, BDO Canada Limited was appointed as Receiver of certain assets (“Limited Receiver”) of Vic Van Isle Construction Ltd. that is described below:

2012 Caterpillar TL1255 4X4 (Serial No. TBN01026);
2014 John Deere 624K Front End Loader (Serial no. 1DW624KTVEF661885); and
2013 Genie Lift 45/25 (Serial no. Z452513A-47333).

On December 13, 2022, 2427324 Alberta Ltd. (the “Landlord”) filed a Notice of Application to set aside the Receivership Order made December 2, 2022. On December 15, 2022, the Landlord adjourned the Notice of Application.

On April 5, 2023, Mitsubishi HC Capital Canada Inc. (“Mitsubishi”) filed a Notice of Application to discharge the Limited Receiver and appoint BDO Canada Limited as Receiver over all of the assets (the “Assets”) of Vic Van Isle Construction Ltd (“Vic Van”). VVI Construction Ltd. (“VVI”), and Lortap Enterprises Ltd. (“Lortap”). The Order was granted on April 11, 2023, appointing BDO Canada Limited as Receiver of Vic Van, VVI and Lortap. Please refer to the Receivership Order and Form 87 Notice and Statement of the Receiver for additional details.

The Receiver conducted a tender process to solicit auction proposals and offers for the Assets. The Receiver requested proposals and offers to be submitted by a deadline of Friday, May 12, 2023, 4:00PM PST.

The Receiver accepted an auction services agreement (“ASA”) and an asset purchase agreement (“APA”). Both the ASA and APA were approved by the Court on June 6, 2023.

On July 19, 2023, the Receiver assigned Vic Van Isle Construction Ltd. and Lortap Enterprises Ltd. into bankruptcy. The First Meeting of Creditors for Vic Van occurred via Microsoft Teams on August 9, 2023, at 9:00am PDT. The First Meeting of Creditors for Lortap occurred via Microsoft Teams on August 9, 2023, at 10:00am PDT.

On January 22, 2024, the Receiver made an application to approve the assignment of the accounts receivable, make a payment to Mitsubishi, distribute remaining funds to Hampton and discharge the Receiver. The application was returnable February 2, 2024.

On January 31, 2024, Western Surety Company filed a response to the application returnable February 2, 2024, and opposed the granting of the payout of the remaining funds to Hampton. The Receiver has revised the draft order to pay the remaining funds in to Court.

On February 2, 2024 a Court Order was granted approving the assignment of the accounts receivable. On the same day, a Court Order was granted approving the final distribution and discharge of the Receiver.

If you require additional information, please contact:

Troy Chesley
Phone: +1 (604) 646-6215
Email: [email protected]