Canadian Imperial Bank of Commerce v Custom Agricultural Intelligence Incorporated
Canadian Imperial Bank of Commerce
Law Firm / Organization
McKercher LLP
Custom Agricultural Intelligence Incorporated
Law Firm / Organization
Cuelenaere LLP
Lawyer(s)

Jeremy P. Klassen

Green Chem Consultants Inc.
Law Firm / Organization
Cuelenaere LLP
Lawyer(s)

Jeremy P. Klassen

Bermman Micronutrient Incorporated
Law Firm / Organization
Cuelenaere LLP
Lawyer(s)

Jeremy P. Klassen

Bermman Haven Incorporated
Law Firm / Organization
Cuelenaere LLP
Lawyer(s)

Jeremy P. Klassen

BDO Canada Limited
Law Firm / Organization
McDougall Gauley LLP

Case Overview:
Applicant applied to the King’s Bench for Saskatchewan to approve actions taken by BDO Canada Limited, the court-appointed receiver, concerning the sale of assets belonging to Custom Agricultural Intelligence Incorporated and related entities. The receiver sought court approval of its activities and the sale process outlined in its first report, dated November 1, 2024. The application raised procedural concerns about short notice given to creditors and debtors.

Legal Issues and Arguments:
The court examined whether it was appropriate to grant approval of the receiver's activities when only three days' notice was provided to interested parties. Justice Gerecke noted that while such requests are standard in insolvency proceedings, they should balance expediency with fairness to creditors. The receiver argued that the timing aligned with the procedural framework of the receivership order, which allowed for expedited service.

The court addressed the implications of granting approval on short notice, noting potential challenges in future claims against the receiver. Justice Gerecke emphasized that seeking approval of activities at the same time as substantive relief might undermine protections afforded to court officers.

Outcome and Costs:
The court approved the receiver's actions as outlined in its report, finding no issues warranting delay. The order included standard protections for the receiver. No specific costs or awards in favor of either party were mentioned in the decision.

Court of King's Bench for Saskatchewan
KBG-SA-01031-2024
Bankruptcy & insolvency
Applicant