Waterway Houseboats, a Sicamous, British Columbia-based houseboat vacation business, was placed in receivership on June 11 on application by CIBC. A 2012 flood caused significant damage to the company's waterfront property and forced it to borrow heavily to repair its marina and upgrade its fleet. Two months after the flood, the company sued the province, the local district and neighbouring landowners. The case went to trial earlier this year and on April 16, the court issued its judgment. Although successful, the quantum of damages awarded was far less than what was needed and expected by the company. Alvarez & Marsal was appointed receiver. Counsel is Blakes for the applicant and Gowling WLG for the receiver.