Unifab Industries Ltd., a Grand Forks, British Columbia-based company which provided engineering, fabrication, welding, machining, assembly, sandblasting and coating services in the mining and forestry sectors, and Sekwod Enterprises (2012) Ltd., which owns six acres of land and the 45,000 sq foot facility from which Unifab operated, were placed in receivership on July 17, 2023, on application by BMO. The companies committed various events of default under the original credit facilities provided by BMO, and subsequently defaulted on their forbearance agreement with BMO, including by failing to pay taxes when due and failing to report to BMO. MNP was appointed Receiver, represented by Fasken. McCarthy Tétrault is counsel to BMO and Farris is counsel to Drop Sprockets.

By: Dina Milivojevic