Stellar One Holdings Ltd./ Podollan Group of Companies

Receivership

Page last updated: March 9, 2019

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status of the file as of March 5, 2020 

On March 5, 2020, PricewaterhouseCoopers Inc., in its capacity as Receiver of Stellar One Holdings Ltd. filed an application seeking to convert its appointment as Interim Receiver of Dax Air Enterprises Inc. ("Dax Air") to that of Receiver of Dax Air, with the authority to, among other things, market and sell the assets of Dax Air. The application is scheduled to be heard on March 23, 2020 in Vancouver, BC. In support of this application, PwC filed its Fourth Report to the Court which is posted in the Receiver's Report section of this website.

Status of the file as of December 19, 2019 

On November 1, 2019, PricewaterhouseCoopers Inc. was appointed Receiver of Stellar One Holdings Ltd. ("Stellar One") upon application by Servus Credit Union.  Stellar One is a holding company. Its assets are comprised of its 100% ownership in seven subsidiary companies and a 49% interest in one other entity. These various entities form what is referred to as the “Podollan Group of Companies”.  David Podollan is the sole director of all but one of the subsidiary companies.

Subsequently, on December 19, 2019, Interim Receivership Orders were granted against six companies of the Podollan Group, namely, Podfive Investments Inc., Dax Air Enterprises Inc., Corporate Ventures Inc., Podollan Developments Ltd., Podollan's Construction Ltd., Podollan Squared Ventures Ltd. (the "Subsidiary Companies").

This website will be updated as further information becomes available.

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Sumeet Saroya

Senior Associate, PwC Canada

Tel: 1 780 441 6826

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