News

Assets auctioned as Johel Group in receivership

There were plenty of pieces of construction equipment up for auction from the Johel Group last month. - Malcolm Chalmers
There were plenty of pieces of construction equipment up for auction from the Johel Group last month.
— image credit: Malcolm Chalmers

The fate of Lake Cowichan’s Johel Brothers Contracting was reflected in a recent massive public auction of the firm’s construction vehicles.

As instructed by PricewaterhouseCoopers Inc., Maynards auctioneers held the Feb. 19 sale of Johel Brothers’ large and small construction equipment.

The auction, held in Lake Cowichan at the Johel Group site, was ordered by PWC in its role as court-appointed receiver for the struggling, long-time lake company.

“We have no comment at this time, however, will be filing a receiver’s report within a few weeks time where you can obtain further updates on the file. It will be posted to our website,” PWC senior associate Blair W. Linnen said in an email to the News Leader Pictorial.

Owner Dave Johel and his staff did not return repeated calls last week.

Browsing some 20-pages of items on the block at Maynards, it appears a wide range of the company’s gear was being sold.

Hand tools and a fleet of pick-up trucks, to shelving, dump trucks — even hot-water heaters — were up for bids.

Results of the auction were unavailable, but it attracted a lot of attention.

Throughout the day more than 350 registered bidders checked out the equipment on location.

Bidders arrived from as far as California to the Yukon and Alberta. Other bidders from as far away as Dubai used the internet to purchase the equipment they were interested in.

According to a statement on the PWC website, various entities within the Johel Group were put into receivership on Oct. 19.

“Following the receiver’s application on Dec. 20, 2013, the court authorized the proposed auction agreement,” PWC states.

Johel Brothers, a valley excavating-and-development pillar, for 33 years, filed for creditor protection last spring, under the Companies’ Creditors Arrangement Act.

More information about the receivership can be read by going to pwc.com/ca and searching Johel Group.

—with a file from Malcolm Chalmers

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Jon Lefebure tosses mayoral hat back into the ring
 
Updated Monday: Senior hiker Tony Morley still missing
 
Strategy pitched as medicine for Native health inequities
All in the Family (Day swim)
 
Sewage outfall to be switched from river to ocean
 
Seniors Games medals in abundance
TOUR DE ROCK: Rough ride to Tofino as two cyclists injured
 
Province floats gas tax shift to ferries
 
Human Rights Tribunal rejects smart meter complaint

Community Events, September 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Sep 26 edition online now. Browse the archives.