Several Waterway Houseboats were seen leaving the company’s docks on June 25, bound for the Twin Anchors facility where they are now being offered for sale on behalf of their owners. (File photo)

Months after Waterway Houseboats receivership, creditors yet to be reimbursed

District of Sicamous owed more than $80,000 in unpaid taxes from now-defunct houseboat company

Almost six months after Waterway Houseboat Vacations ceased operations, its assets are up for sale by the firm managing its receivership. Meanwhile, reimbursement for the dozens of people and companies on a creditor list has not been completed.

The company went into receivership on June 11, 2019, putting 51 people out of work and leaving many people’s planned houseboat vacations cancelled with little warning. Receivership was initiated by CIBC, which Waterway owed $7,969,327 to. With the court-ordered receivership in effect, Alvarez and Marsal Canada, a multi-national consulting firm, took over at Waterway’s Mervyn Road property and published a creditors list breaking down the more than $13 million Waterway owed.

Read More: More than $13 million owed to creditors by Waterway Houseboats

Read More: 51 out of work as Sicamous’ Waterway Houseboats shuts down

The District of Sicamous is one of the groups listed on the creditors list. Kelly Bennett, the district’s chief financial officer, said the $83,991 Waterway owed the district for unpaid taxes remains outstanding.

Twin Anchors, Waterway’s former competitor at the opposite end of the Sicamous channel, are facilitating the sale of some of the now defunct company’s houseboat fleet. Thirteen boats are listed for sale by their owners on Twin Anchors’ website. They range in size from 40 to 66 feet and are priced from just over $50,000 to $350,000.

Also up for sale is Waterway’s property, currently listed for $4,495,000. The property description listed on Realtor.ca states the 16.33-acre property is up for sale on a court order and the offering could include all of the site’s operational equipment and company-owned houseboats.

Alvarez and Marsal did not respond to a request for an update on the receivership process.

Read More: Real estate prices from Peachland to Revelstoke cooling down: report

Read More: Man pleads guilty to child pornography offences in Salmon Arm


@SalmonArm
jim.elliot@saobserver.net

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

RCMP request public’s help in locating missing Salmon Arm man

Ken Derkach is a familiar face to many, one of the city’s residents who is without a home

Drunk man on dirt bike among May motor vehicle calls for Chase RCMP

Other calls resulted in excessive speed tickets and the arrests of two prohibited drivers

Playgrounds to reopen across the Okanagan on June 1

After nearly two months closure, playgrounds are set to reopen

Property tax bills now on their way to Salmon Arm homeowners

COVID-19 delayed mailing slightly, deadline extended but council hopes residents will pay by July 2

Mission prison COVID-19 outbreak ends, 9 new cases in B.C.

New positive test at Port Coquitlam care home

Booze on Kelowna beaches? Mayor says ‘not at the moment’

Mayor Colin Basran says alcohol in public spaces is not on council’s radar right now — but that could change

Getting hitched at historic B.C. gold rush town still on table during COVID-19 pandemic

Micro-weddings, online visits, offered at Barkerville Historic Town and Park

VIDEO: Police look for suspect seen tripping elderly woman in Burnaby

The elderly woman was walking near the SkyTrain station when she was randomly tripped

Summerland amends procedure for virtual council meetings, adding transparency

During COVID-19 pandemic, meetings have been held using online technology

Serious vehicle incident closes Highway 97 near Falkland

DriveBC says an assessment is underway; delays expected

South Okanagan woman to ‘load up the cart’ with toys for local hospital

Pascale-Ann Demers launched a GoFundMe to upgrade the toy supply at Penticton Regional Hospital

$113K boost for North Okanagan charities on COVID-19 frontline

Partnership between United Way and Community Foundation supports organizations from Vernon to Revelstoke

Most Read