Vicinity Motor Corp. (TSXV:VMC) et al., which carry on business as a North American supplier of electric commercial vehicles for both public and commercial enterprise use, were placed in receivership on October 21 on application by RBC, owed nearly US$17 million.

The companies operate primarily in BC with some operations in Washington State. They failed to repay their loan from RBC despite being granted a forbearance period.

FTI is the receiver.

Counsel is Dentons for RBC, Fasken for the receiver and Norton Rose for EDC.