For further information contact:

 

Chris Bowra

Phone: 604.608.6242

cbowra@bowragroup.com

TBA Beverage Inc.

 

Overview:
 

TBA Beverage Inc. (the “Company” or “TBA”) manufactures a full range of alcohol products, including a variety of beer, wine, and spirits. The Company’s production facility is located in Vancouver, British Columbia.  TBA previously operated as “Craft Collective Beerworks”.  

TBA manufactures its own brand of alcoholic beverages and provides contract brewing and production services to third party customers.  

TBA is Federally and Provincially licensed to produce, sell and store alcoholic beverages.

 

File Updates:

 

On April 14, 2020 the Company filed a Notice of Intention to Make a Proposal (“NOI”) under subsection 50.4(1) of the Bankruptcy and Insolvency Act. The Bowra Group Inc. was appointed as the Proposal Trustee under the NOI.

 

On May 13, 2020, TBA applied for and received an Order extending the time to file a Proposal to June 28, 2020 and authorizing the Company to engage in a sales process (“Sales Process”).  The Bowra Group Inc. was authorized to carry out the Sales Process for and on behalf of TBA. 

On June 24, 2020, TBA applied for and received an Order extending the time to file a Proposal to August 12, 2020.  The Order amended the authorized limit on the Company’s line of credit with 1241393 B.C. Ltd. from $1.2 million to $1.7 million and granted a charge in favour of 1241393 B.C. Ltd. for the amount of the increased line of credit of up to $500,000.

On August 7, 2020, TBA applied for and received an Order extending the time to file a Proposal to September 25, 2020 and approving the sale of substantially all of the Company’s assets to Mod Beverage Inc. 

The Company did not make a Proposal to creditors or seek a further extension of time to make a Proposal by September 25, 2020 and as a result the Company was deemed bankrupt on September 28, 2020.

First Meeting of Creditors

 

The First Meeting of Creditors is scheduled to be held on October 16, 2020 at 11:00AM (PST).  Due to COVID-19, the meeting will be held via conference call.  Conference call in details can be obtained upon request to the Trustee’s office.

Creditor Information:

Creditor’s Package – First Meeting of Creditors 

Form 31 – Proof of Claim 

Letter from Company to Creditors 

Creditor’s Package – Notice of Intention to Make a Proposal

Trustee’s Report to Creditors (October 16, 2020)

Sales Process: 

The Bowra Group Inc. in its capacity as the Proposal Trustee for TBA is seeking offers or an investment in, or the assets of, TBA pursuant to a Sales Process Order dated May 13, 2020

 

The bid deadline for offers is 4:00PM local time in Vancouver, B.C. on July 14, 2020. 

 

Further information is provided in the Investment Teaser below:

 

Investment Teaser  

 

Parties interested in obtaining further information about the Sales Process or to obtain a copy of the Non-Disclosure Agreement should contact the Proposal Trustee:

 

Chris Bowra

Phone: 604-608-6242

Email: cbowra@bowragroup.com

Court Documents: 

Notice of Application to Court returnable August 7, 2020

NOI Extension and Approval of Sale Contract Order dated August 7, 2020

Notice of Application to Court returnable June 24, 2020

NOI Extension and Amendment to Authorized Line of Credit Order dated     June 24, 2020

Notice of Application to Court returnable May 13, 2020

NOI Extension and Sales Process Order 

Vancouver Office: 

PO Box 72, Bentall One

505 Burrard Street, Suite 430

Vancouver, B.C.  V7X 1M3

Tel: 604 689 8939

Fax: 604 689 8584

Edmonton Office: 

TD Tower

Suite 1411 – 10088 102 Avenue

Edmonton, AB T5J 2Z1

Tel: 780 809 1224

Fax: 780 705 1946

 

 
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© The Bowra Group.