In British Columbia, there is only one Insurance company (ICBC). It's a crown (provincially subsidized) corporation so I doubt you can sue anybody in this situation.
Cris'pus will probably get it looked at, ICBC will send adjustors to the other car, see if the damage and stories match up, if they do, or they rule in Cris'pus's favour, they'll give him an estimate and he goes to repair his car.
The only way I think you would be able to sue is if there was bodily harm inflicted.
I don't know about the other kid though, probably he'll be marked so he'll have to pay double the premiums when he insures, he'll be suspended until notice for his license.
Most likely the other vehicle is insured with third party liability, so the owner's of the other car will just see their insurance premiums go up if they didn't report the car as missing or stolen.
