Foxtrot Winery ULC and Foxtrot Farms ULC, Receivership

Foxtrot Winery ULC and Foxtrot Farms ULC, which own and operate a boutique winery in Naramata, British Columbia, were placed in receivership on July 12 on application by CIBC, owed approximately $2.7 million as of April 2024.

Foxtrot has committed multiple ongoing defaults under the credit facilities provided by CIBC, including allegedly using funds earmarked to pay down the loan to instead pay unpaid wages, source deductions and management fees.

CIBC previously sought to have an interim receiver appointed in May, but Foxtrot was granted time to negotiate a potential sale which failed to materialize.

PwC is the receiver.

Counsel is McCarthy Tétrault for CIBC and Farris for Foxtrot.