Labtest Certification Companies Enter Receivership Over $17.6 Million Debt

Labtest Certification Inc., Labtest Certification Ontario Inc., and two related companies have been placed into receivership after missing payments to National Bank of Canada. The bank, which was owed approximately $17.6 million, applied for receivership on September 15, 2026. Justice G.C. Weatherill of the Supreme Court of British Columbia appointed Deloitte Restructuring Inc. as receiver.

The companies provide product safety testing and certification services to manufacturers and sellers of medical, electrical, chemical, and other products subject to Canadian and international standards. The group's headquarters are in Delta, and Kavinder Singh Dhillon is its chairman, president, and CEO. National Bank provided financing, including a $500,000 demand operating loan to Labtest and a $9.8 million demand collateral mortgage loan to 2842878 Ontario Inc.

The relationship between the companies and National Bank began deteriorating in 2025, with National Bank waiving certain reporting and financial covenant defaults that month. However, Goshu subsequently missed monthly loan payments in November and December 2025, January 2026, and April through June 2026.