On May 16, 2025, V K Delivery & Moving Services Ltd. (“VK Delivery”), Product Line Holdings and Logistics Ltd. (“Product Line”), VK 24/7 Logistics Solutions Ltd. (“VK 24/7”) and, VK Linehaul Ltd. (“VK Linehaul”) (collectively, the “VK Group” or the “Petitioners”) obtained a court order (the “Initial Order”) from the Supreme Court of British Columbia (the “Court”) pursuant to the Companies’ Creditors Arrangement Act, R.S.C. 1985, c-36 (“CCAA”). Crowe Mackay & Company Ltd. has been appointed as Monitor.
The Initial Order provides, inter-alia, a stay of proceedings until and including May 26, 2025 (the “Stay Period”) and may be extended by the Court. During the Stay Period, all parties are prohibited from commencing or continuing legal action against the Companies and all rights and remedies of any party against or in respect of the Companies or its assets are stayed and suspended pursuant to the terms set out in the Initial Order.
On May 23, 2025, the Petitioners filed a Notice of Application returnable May 27, 2024 (the “Comeback Application”) seeking an amended and restated Initial Order (the “ARIO”) to provide for, among others, orders extending the Stay Period from May 26, 2025, up to and including June 25, 2025 (the “Stay Extension”), an administrative charge in the amount of $100,000 in favour of the Monitor, the Monitor’s counsel and the Petitioners’ counsel, and permission for the Petitioner to make monthly payments on the pre-filing arrears owed to ICBC.
On May 27, 2025, the Court granted the ARIO.
On June 20, 2025, the Petitioners filed a Notice of Application returnable June 25, 2025 seeking an extension of the Stay Period from June 25, 2025 up to and including August 25, 2025. The Royal Bank of Canada (“RBC”) the senior secured creditor filed an response to the June 20, 2025 application opposing the granting of the extension.
On June 25, 2025, Justice Basran adjourned the June 25, 2025 hearing to July 17, 2025. The Stay Extension was also extended to July 17, 2025 (the “Second Stay Extension“).
On July 15, 2025, the Petitioners filed a Amended Notice of Application seeking to modify the previously requested extension of the Stay Period from August 25, 2025 up to and including September 17, 2025.
On July 17, 2025, Justice Basran reserved his decision to grant the extension to the Stay Period to September 17, 2025 until the morning of July 21, 2025.
On July 21, 2025, Judge Basran granted the extension of the Stay Period to September 9, 2025 (the “Third Stay Extension“).
On September 4, 2025, the Petitioners filed a Notice of Application seeking an order to provide for, among other, order extending the Stay Period from September 9, 2025 to December 17, 2025 (the “Fourth Stay Extension”), extending the deadline to make payments for pre-filing arrears to ICBC to from August 15, 2025 to November 30, 2025, increasing the administrative charge from $100,000 to $200,000. The Petitioners are seeking the Fourth Stay Extension to finalize a financing agreement with BVD Group (“BVD”). On September 26, 2025, the Court granted the relief sought.
First Report of the Monitor dated May 23, 2025
Second Report of the Monitor dated June 19, 2025
Supplemental Report to the Second Report of the Monitor dated July 15, 2025
Supplemental Report to the Third Report of the Monitor dated September 8, 2025