KSV Advisory featured in The Breaker News article: Rest of Vancouver’s Nexii sold to Dallas lawyers
The beleaguered Vancouver green building products company that purported to be worth $1 billion in 2021 was sold for $500,000 plus more than $22 million in assumed liabilities.
Stephens appointed KSV as monitor under the Companies’ Creditors Arrangement Act on Jan. 11 for NBSI, which owed creditors more than $112 million. NBSI’s Jan. 10 petition to the court said it owes the three senior secured lenders — Powerscourt Investments XXV LP, Trinity Capital Inc. and Horizon Technology Finance Corporation — USD$79 million and another $6 million to equipment lessors, trade creditors and landlords. Assets include equipment, accounts receivable, contracts and intellectual property worth a total book value of $69 million.