Proceedings.

0989705 B.C. Ltd., Alderbridge Way GP Ltd. and Alderbridge Way Limited Partnership

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Active
Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
Court
Supreme Court of British Columbia
File
S-222758
Filings held127
Last activity8 May 2026
On the record1,634 days
Secured debt$158M
OverviewSummary updated

0989705 B.C. Ltd., Alderbridge Way GP Ltd. and Alderbridge Way Limited Partnership came under the Companies' Creditors Arrangement Act on October 27, 2025, when an application was filed in the Supreme Court of British Columbia. The proceeding is carried under court file number S-222758 and remains active. The record for these three related debtors, a company, a general partner and the limited partnership itself, so far consists of the commencement application alone; no subsequent step has been entered on it.

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Case updates130 dated entries
#Report

The officer filed report no. Nineteenth Report. The Companies' remaining activities involve preserving and maintaining the undeveloped Development Property (soil berm remediation, dewatering, security) while the Monitor works to finalize a sale of substantially all assets to Romspen via a credit bid and reverse vesting order, and continues managing the wind-down of presale purchaser claims.

Source: Nineteenth Report of the Monitor

#Filing

Application filed in the Supreme Court of British Columbia commencing the CCAA proceeding for the three debtors, docketed as court file S-222758.

Source: Notice of Application filed

#Report

The officer filed report no. Eighteenth Report. The Companies are advancing a sale of the Development Property to a Preferred Bidder under a Final Agreement pending Competition Bureau review, while the Monitor moves to disclaim presale agreements and distribute presale deposits and accrued interest.

Source: Eighteenth Report of the Monitor

#Report

The officer filed report no. Monitor's Seventeenth Report to Court. The Companies continue restructuring efforts, focused on completing a sale of the Development Property to a Preferred Bidder, obtaining a new building permit from the City of Richmond, and managing site costs (dewatering, security, site management) during the extended stay period.

Source: Seventeenth Report of the Monitor

#Report

The officer filed report no. Sixteenth Report. The Companies continue to hold the vacant Development Property while pursuing a new building permit, resolving a contractor's lien, and marketing the property for sale under a court-approved sale process, funded by DIP financing.

Source: Sixteenth Report of the Monitor

#Report

The officer filed report no. Fifteenth Report. The Companies' Development Property remains in a pre-construction state pending issuance of a building permit, with the Monitor overseeing a shoring/dewatering system and a sale process to market the property to prospective purchasers.

Source: Fifteenth Report of the Monitor

#Report

The officer filed report no. Fourteenth Report. The Companies continue to hold the undeveloped Development Property in Richmond, BC under CCAA protection, pursuing a new building permit, stabilizing a temporary shoring system, and preparing to launch a sale and investment solicitation process for the property.

Source: Fourteenth Report of the Monitor

#Report

The officer filed report no. Thirteenth Report. The Companies' development property remains under a temporary shoring system being monitored daily, a new building permit application is under City review, and the Monitor is preparing to recommence a sale process for the property once financing and permit issues are resolved.

Source: Thirteenth Report of the Monitor

#Order

The court approved a sale and investment solicitation process. A bid deadline of 2022-06-22.

Source: SISP Order

Parties

Debtor

0989705 B.C. Ltd., Alderbridge Way GP Ltd. and Alderbridge Way Limited Partnership

Monitor

MNP

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice FitzpatrickSupreme Court of British Columbia23 orders, Apr 2022 – Apr 202649 cases on record

Counsel of record

PartyCounselFirst seenSource
Applicant0989705 B.C. Ltd., Alderbridge Way GP Ltd. and Alderbridge Way Limited PartnershipDentons Canada LLP · Kornfeld LLP · McCarthy Tétrault LLP25 Sep 2023Service list · 2 Apr 2026
ApplicantMcCarthy TétraultLLPMcCarthy Tétrault LLP25 Sep 2023Application · 25 Sep 2023
Creditor0989705 B.C. Ltd., Alderbridge Way Limited Partnership and Alderbridge Way GP LtdFasken Martineau DuMoulin LLP2 Apr 2026Service list · 2 Apr 2026
CreditorAyman Khaled Rafiq MahmoudBridgehouse Law LLP22 Feb 2024Application · 22 Feb 2024
CreditorCIBT Education Group Inc., GEC Education City (Richmond) Limited Partnership and GECHarper Grey LLP2 Apr 2026Service list · 2 Apr 2026
CreditorCIBT Education Group Inc., GEC Education City (Richmond) Limited Partnership and GEC (Richmond) GP IncMiller Thomson LLP2 Apr 2026Service list · 2 Apr 2026
CreditorCity of RichmondClark Wilson LLP25 Sep 2023Application · 25 Sep 2023
CreditorJV Driver International, J.V. Driver Inc. And 1185678 B.C. LtdMcCarthy Tétrault LLP2 Apr 2026Service list · 2 Apr 2026
CreditorMetro-Can Construction (AT) LtdMcLean & Armstrong LLP2 Apr 2026Service list · 2 Apr 2026
CreditorOnni GroupOsler, Hoskin & Harcourt LLP · Sampson Davie Fane Volpiana LLP2 Apr 2026Service list · 2 Apr 2026
CreditorR. Jay Management Ltd. and MNB Enterprises IncCassels Brock & Blackwell LLP2 Apr 2026Service list · 2 Apr 2026
CreditorRomspen Investment CorporationBlake, Cassels & Graydon LLP2 Apr 2026Service list · 2 Apr 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 1 named without a figure
#Priority classCreditorAmountSource
4SecuredRomspen Investment Corporation · in 16 casesFirst-ranking mortgage and assignment of rents over the Real Property, registered principal amount $422,000,000 (Romspen Mortgage); beneficial direction and charge agreement; personal property security agreements from Petitioners and Guarantors; share and unit pledges; guarantees from Gatland Development Corporation, REV Holdings Ltd., REV Investments Inc., South Street Development Managers Ltd., South Street (Alderbridge) Limited Partnership, and personal guarantees from Samuel Hanson and Brent Hanson (directors/related parties). — Senior secured construction lender; suspended draws March 202 · as of 10 Feb 2021$158MFiled Petition to the Court (April 1, 2022)
4SecuredGlobal Education City (Richmond) Limited Partnership (GEC), guaranteed by CIBT Education Group Inc.Third-ranking mortgage against the Real Property, registered principal amount $65,000,000 (GEC Mortgage), granted in connection with the GEC PDA Deposit. — GEC Demand dated June 9, 2021 states full amount owing under GEC Mortgage was $94,106,654.14 as at June 8, 2021, with interest at 15% per annum; this is the exact dated demand figure used as amount. GEC PDA Deposit of $60,000,000 paid as of Nov 1, 2019 was utilized to advance the Development. Summary table (p.16) separately lists (not summed): deposit/principal $60,000,000 as at July 7, 2021 and interest $35,214,147.67 as at July 7, 2021 (d · as of 8 Jun 2021$94.1MFiled Petition to the Court (April 1, 2022)
4Secured2ML Lenders (R. Jay Management Ltd., J.V. Driver Investments Inc., MNB Enterprises Inc., G. Wong Holdings Inc., Gatland Development Corporation, REV Investments Inc., Voth Developments Ltd., Inland CoSecond-ranking mortgage and assignment of rents over the Real Property, registered principal amount $60,000,000 (2ML Mortgage); beneficial direction and charge agreement; guarantees from the Guarantors, with limited guarantees from G. Wong Holdings Inc. and MNB Enterprises Inc. — Second-lien lenders; related parties — current 2ML Lenders are unitholders of the LP or entities associated with unitholders of the LP. Document states total of 'approximately $76.7 million' (para 46), comprising principal claimed $47,528,816 and interest/other amounts $29,163,939 (including $1,187,755 in fees and cos · as of 31 Jan 2022$76.7MFiled Petition to the Court (April 1, 2022)
4SecuredCity of Richmond (property tax arrears) · in 5 casesStatutory property tax lien on the Real Property. — Property taxes due and owing on the Real Property for the years 2020 and 2021, as of March 3, 2022. — debtor: 0989705 B.C. Ltd. (registered owner of the Real Property) · as of 3 Mar 2022$1.67MFiled Petition to the Court (April 1, 2022)
5PMSI / lessorsPPSA equipment financiers (PMSI class) · in 183 casesRegistered financing statement over certain equipment at the British Columbia Personal Property Registry. — Document states Petitioners have 'one further secured creditor with a registered financing statement related to certain equipment' at the BC PPSA registry; amount not stated. — debtor: Petitioners—Filed Petition to the Court (April 1, 2022)

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

Sale processAs stated in the filings

Liquidation in progress — The Monitor, taking into consideration the foregoing, is of the view that the Sale Process must be further extended in order for prospective parties to engage with Romspen.Fifteenth Report of the Monitor · 19 Nov 2024

Parties solicited

200

Third Report of the Monitor

Bid deadline

16 October 2024

Order made after Application (Sale Process)

AdvisorsCushman & Wakefield (listing broker); K.H.M Realty Ltd. (listing broker); Jones Lang LaSalle Real Estate Services, Inc. (listing broker); Jones Lang LeSalle Real Estate Services, Inc. (sale agent)Order made after Application (Sale Process)
RecoveriesAs stated in the filings

Unsecured creditors: no distribution.Notice of Application (AVO) · 13 Feb 2026

ClassCreditorClaimsRecoveryBasisSource
UnsecuredCompanies' subordinate creditors—no distribution—Notice of Application (AVO) · 13 Feb 2026

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

Estate financialsReported figures — never derived
Total assets at filing$351M
Total liabilities at filing$343M

As at 31 Dec 2020 · per Unaudited (Management-prepared, not audited or verified by the Proposed Monitor) · Alderbridge Way Limited Partnership only (reflects LP's beneficial ownership of the Property and corresponding liabilities); the GP and 098 do not produce separate financial statements as all assets/liabilities are recorded under the LP — Assets: Cash $0.1M, Trust (pre-sale) deposits $49.3M, Deferred management fees $3.4M, Construction in progress $298.6M. Liabilities: Accounts payable/accrued liabilities $83.4M, Other mortgages payable (CIBT deposit) $60.0M, Mortgages payable (Romspen + 2ML, at original principal value) $199.4M. Partners' capital as of Dec 30, 2020 was $8.5 million.

Cumulative receipts

$7.16M

As at 28 Oct 2025Nineteenth Report of the Monitor

Cumulative disbursements

$485K

As at 28 Oct 2025Nineteenth Report of the Monitor

Cash on hand

$7.29M

As at 13 Feb 2026Twentieth Report of the Monitor

Professional fees to date

$147K

As at 28 Oct 2025Nineteenth Report of the Monitor

Documents
127 filings
DateDocumentFile
Entered Approval and Vesting OrderPDF
Order Made After Application
  • Presiding officer Justice Fitzpatrick
PDF
Requisition for the continuation of the DCC application to April 15, 2026PDF
Requisition (continuation of DCC application)PDF
Sealing Order
  • Presiding officer Justice Fitzpatrick
PDF
Service List
  • Counsel Fasken Martineau DuMoulin LLP
PDF
Order extending the stay of proceedings to March 31, 2026
  • Order date 29 October 2025
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 31 March 2026
PDF
Order Made After Application (Sealing Order)
  • Presiding officer Justice Fitzpatrick
PDF
Written Submissions of the Petitioner and GuarantorsPDF
Notice of Application for Sealing Order of Confidential ReportPDF
Affidavit #2 of Morgan GloverPDF
Written Submissions of GECPDF
Written Submissions of Romspen Investment CorporationPDF
Written Submissions of the Monitor - RVO ApprovalPDF
Affidavit #1 of PavlakovicPDF
Affidavit #7 of J. AustenPDF
Affidavit #6 of J. Austen (without exhibits)PDF
Monitor's Reply to Application ResponsePDF
Affidavit #1 of K. ApanPDF
Application Response AlderbridgePDF
Application Response Onni Group (AVO)PDF
Application Response Onni Group (DCC)PDF
Application Response Onni Group (Sealing Order)PDF
Application Response Romspen Investment CorpPDF
Application Response of GEC (Richmond) GP Inc.PDF
Affidavit #1 of Jennifer Betsayda FiledPDF
Notice of Application (AVO)
  • Recovery outcome Entries: per unstated · Table missing:
PDF
Notice of Application (DCC)
  • Counsel Kornfeld LLP
PDF
Notice of Application (Sealing Order)PDF
Twentieth Report of the Monitor
  • Cash on hand $7.29M · Note: As of the date of this Twentieth Report · Qualifier: cash in trust with Monitor, used to calculate the Estimated Cash Bid Amount
  • Operational summary Construction on the Development Property remains halted; the Monitor is focused on preserving the site (soil berm stabilization, dewatering, monitoring) while advancing a sale transaction (the Romspen PSA) intended to allow construction to recommence post-closing.
  • Report no Twentieth Report
PDF
Nineteenth Report of the Monitor
  • Cash on hand $7.16M · Note: Ending Cash Position per $000's actual cash flow table for period ending October 26, 2025 · As at: 2025-10-26
  • Disbursements $485K · Note: Total actual disbursements for the Eighteenth Cash Flow Period (June 16 to October 26, 2025), in $000's · Since: June 16, 2025 (Eighteenth Cash Flow Period start)
  • Operational summary The Companies' remaining activities involve preserving and maintaining the undeveloped Development Property (soil berm remediation, dewatering, security) while the Monitor works to finalize a sale of substantially all assets to Romspen via a credit bid and reverse vesting order, and continues managing the wind-down of presale purchaser claims.
  • Professional fees $147K · Note: Reported in $000's actual cash flow variance table; forecast for next period separately identifies Professional fees - Building Permit ($650,000) and Professional fees - Restructuring ($600,000) · Party: Professional fees (unspecified professionals, actual disbursements) · Period: June 16 to October 26, 2025
  • + 3 more extracted facts
PDF
Notice of Application filed
  • Commencement date 27 October 2025
  • Court IN THE SUPREME COURT OF BRITISH COLUMBIA
  • Court file no S-222758
PDF
Order extending stay of proceedings to June 27, 2025
  • Order date 2 May 2025
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 27 June 2025
PDF
Order extending stay of proceedings to October 31 2025
  • Order date 26 June 2025
  • Presiding officer Justice Chan
  • Stay extended to 31 October 2025
PDF
Affidavit 1 of Joey Law filed June 24 2025PDF
Eighteenth Report of the Monitor
  • Cash on hand $494K · Note: Ending cash position per actual vs. forecast cash flow variance table for period April 1, 2022 to June 15, 2025 (in $000's) · As at: 2025-06-15
  • Disbursements $10.5M · Note: Actual cumulative disbursements per cash flow variance table (in $000's) for period April 1, 2022 to June 15, 2025 · Since: April 1, 2022 (Filing Date)
  • Operational summary The Companies are advancing a sale of the Development Property to a Preferred Bidder under a Final Agreement pending Competition Bureau review, while the Monitor moves to disclaim presale agreements and distribute presale deposits and accrued interest.
  • Professional fees $2.31M · Note: Actual professional fees per cash flow variance table (in $000's); forecast period professional fees separately budgeted at $550,000 (Building Permit) and $450,000 (Restructuring) for June 16 to November 2, 2025 · Party: Monitor and professionals (actual, cumulative since Filing Date) · Period: April 1, 2022 to June 15, 2025
  • + 3 more extracted facts
PDF
Order extending stay of proceedings to May 2, 2025
  • Order date 31 January 2025
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 2 May 2025
PDF
Seventeenth Report of the Monitor
  • Cash on hand $64K · Note: Ending Cash Position per actual vs forecast table, in $000's, for period ended April 27, 2025 · As at: 2025-04-27
  • Disbursements $10.1M · Note: Figures in $000's; total actual disbursements for period April 1, 2022 to April 27, 2025 · Since: April 1, 2022 (Filing Date)
  • Operational summary The Companies continue restructuring efforts, focused on completing a sale of the Development Property to a Preferred Bidder, obtaining a new building permit from the City of Richmond, and managing site costs (dewatering, security, site management) during the extended stay period.
  • Professional fees $2.19M · Note: Figures in $000's; forecast for same period was $2,452,000 · Party: Professional fees (unspecified - likely includes Monitor and counsel) · Period: April 1, 2022 to April 27, 2025 (actual)
  • + 3 more extracted facts
PDF
Order extending stay of proceedings to January 31, 2025
  • Order date 22 November 2024
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 31 January 2025
PDF
Notice of ApplicationPDF
Sixteenth Report of the Monitor
  • Cash on hand $26K · Note: Figures in $000's; ending cash position for period April 1, 2022 to January 17, 2025 · As at: 2025-01-17
  • Disbursements $9.54M · Note: Figures in $000's, total actual disbursements for period April 1, 2022 to January 17, 2025 · Since: April 1, 2022
  • Operational summary The Companies continue to hold the vacant Development Property while pursuing a new building permit, resolving a contractor's lien, and marketing the property for sale under a court-approved sale process, funded by DIP financing.
  • Professional fees $2.07M · Note: Figures in $000's per actual vs forecast cash flow table; forecast professional fees for Jan 18-May 2, 2025 period were $456,000 · Party: Professionals (unspecified, incl. Monitor and counsel) · Period: April 1, 2022 to January 17, 2025
  • + 3 more extracted facts
PDF
Order extending stay of proceedings to November 22, 2024
  • Order date 2 August 2024
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 29 November 2024
PDF
Fifteenth Report of the Monitor
  • Cash on hand $12K · Note: Figure in $'s,000; ending cash position from actual vs forecast table for period ending November 15, 2024. · As at: 2024-11-15
  • Disbursements $9.34M · Note: Figure in $'s,000; total actual disbursements for period April 1, 2022 to November 15, 2024. · Since: April 1, 2022 (Filing Date)
  • Operational summary The Companies' Development Property remains in a pre-construction state pending issuance of a building permit, with the Monitor overseeing a shoring/dewatering system and a sale process to market the property to prospective purchasers.
  • Professional fees $2.01M · Note: Figure in $'s,000 from actual vs. forecast cash flow table; forecast for same period was $2,287,000. · Party: Monitor and professionals engaged in the CCAA proceedings · Period: April 1, 2022 to November 15, 2024
  • + 5 more extracted facts
PDF
Notice of Application November 19, 2024PDF
Order made after Application (Sale Process)
  • Bid deadline 16 October 2024
  • Order date 2 August 2024
  • Outside date 31 December 2024
  • Presiding officer Justice Fitzpatrick
  • + 2 more extracted facts
PDF
Application Response July 31, 2024PDF
Supplemental Report to the Fourteenth Report of the Monitor
  • Sale advisor Jones Lang LaSalle Real Estate Services, Inc. (listing broker)
  • Sale outcome Sale process approved — The Monitor completed its review of the three sales and marketing proposals and selected JLL as its Sales Agent to conduct the Sales Process.
PDF
Fourteenth Report of the Monitor
  • Cash on hand $4K · Note: Table figures are in $000's; ending cash position at end of actual period. · As at: 2024-07-19
  • Disbursements $8.65M · Note: Table in $000's, actual disbursements for period April 1, 2022 to July 19, 2024. · Since: April 1, 2022
  • Operational summary The Companies continue to hold the undeveloped Development Property in Richmond, BC under CCAA protection, pursuing a new building permit, stabilizing a temporary shoring system, and preparing to launch a sale and investment solicitation process for the property.
  • Professional fees $1.79M · Note: Figures in $000's; forecast professional fees of $1,990,000 for same period, and forecast $594,000 for July 20-Nov 29, 2024 period. · Party: Professional fees (various professionals, actual to date) · Period: April 1, 2022 to July 19, 2024
  • + 3 more extracted facts
PDF
Notice of Application July 26 2024PDF
Order extending stay of proceedings and Interim financing
  • Order date 31 May 2024
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 6 September 2024
PDF
Notice of Application (May 28, 2024)PDF
Thirteenth Report of the Monitor
  • Cash on hand $84K · Note: Ending cash position as at May 24, 2024 from actual vs forecast cash flow table ($000's). · As at: 2024-05-24
  • Disbursements $8.25M · Note: Actual disbursements for the period April 1, 2022 to May 24, 2024 ($000's). · Since: April 1, 2022
  • Operational summary The Companies' development property remains under a temporary shoring system being monitored daily, a new building permit application is under City review, and the Monitor is preparing to recommence a sale process for the property once financing and permit issues are resolved.
  • Professional fees $1.72M · Note: Actual professional fees disbursed per cash flow table ($000's); forecast was $2,015,000. · Party: Professionals (unspecified, incurred by the Companies' estate) · Period: April 1, 2022 to May 24, 2024
  • + 3 more extracted facts
PDF
Order extending stay of proceedings to March 1, 2024
  • Order date 1 December 2023
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 1 March 2024
PDF
Notice of Application (February 22, 2024)
  • Counsel Bridgehouse Law LLP
PDF
Twelfth Report of the MonitorPDF
Order extending stay of proceedings to December 1, 2023
  • Order date 27 September 2023
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 1 December 2023
PDF
Notice of Application (November 23, 2023)PDF
Eleventh Report of the MonitorPDF
Order substituting MNP Ltd. as Monitor of 0989705 B.C. Ltd.
  • Presiding officer Justice Fitzpatrick
PDF
Justice Fitzpatrick - Reasons for Judgement
  • Presiding officer Justice Fitzpatrick
PDF
Order extending stay of proceedings to September 29, 2023
  • Order date 31 May 2023
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 29 September 2023
PDF
Order lifting stay of proceedings
  • Counsel McCarthy Tétrault LLP
  • Order date 27 September 2023
  • Presiding officer Justice Fitzpatrick
PDF
Affidavit #1 of S. Danielisz (made September 25, 2023)PDF
Notice of Application (September 25, 2023)
  • Counsel Applicants McCarthy TétraultLLP
PDF
Notice of Application (September 22, 2023)PDF
Tenth Report of the MonitorPDF
Ninth Report of the MonitorPDF
Affidavit #1 of B. Olson (filed July 26, 2023)PDF
Affidavit #4 of G. Thom (filed July 26, 2023)PDF
Application Response (July 26, 2023)PDF
Application Response (July 26, 2023) 2PDF
Affidavit #1 of J. Austen (filed June 28, 2023)PDF
Notice of Application (June 28, 2023)PDF
Order extending stay of proceedings to June 2, 2023
  • Order date 24 February 2023
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 2 June 2023
PDF
Eighth Report of the MonitorPDF
Notice of Application May 26 2023PDF
Order extending stay of proceedings to February 24, 2023
  • Order date 9 December 2022
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 24 February 2023
PDF
Notice of Application (February 22, 2023)PDF
Seventh Report of the MonitorPDF
Amended Notice of Application (December 16, 2022)PDF
Order extending stay of proceedings to December 9, 2022
  • Order date 7 October 2022
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 10 December 2022
PDF
Notice of Application (December 7, 2022)PDF
Notice of Application (December 7, 2022) 2PDF
Sixth Report of the MonitorPDF
Order extending stay of proceedings to October 7, 2022
  • Order date 11 August 2022
  • Stay expiry 7 October 2022
PDF
Supplemental Report to the Fifth Report of the MonitorPDF
Notice of Application (October 5, 2022)PDF
Fifth Report of the MonitorPDF
Requisition resetting the application of the Petitioners to August 19, 2022PDF
Application Response of GEC to the Petitioners NOA filed August 17, 2022 (returnable August 19, 2022)Trustee site
Affidavit #1 of J. Ratzlaff (filed August 16, 2022)PDF
Affidavit #1 of O. Shaporenko (filed August 16, 2022)PDF
Affidavit #2 of B. Diaz (filed August 16, 2022)PDF
Order extending stay of proceedings to August 12, 2022
  • Order date 22 July 2022
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 12 August 2022
PDF
Requisition for August 11, 2022 hearing datePDF
Application Response of Romspen to the Petitioners NOA filed August 10, 2022 (returnable August 11, 2022)Trustee site
Affidavit #2 of W. Roitman (filed August 9, 2022)PDF
Affidavit #3 of J. Alambre (filed August 9, 2022)PDF
Fourth Report of the MonitorPDF
Notice of Application of Romspen filed August 9 2022 returnable August 11 2022PDF
Order sealing the Monitor's Supplemental Report to the Fourth Report to Court dated August 9, 2022
  • Presiding officer Justice Fitzpatrick
PDF
Affidavit #1 of Belinda Diaz (filed August 8, 2022)PDF
Notice of Application of the Petitioners filed August 8, 2022 (returnable August 11, 2022)PDF
Order extending stay of proceedings to August 3, 2022 and replacement of Monitor
  • Order date 25 April 2022
  • Stay expiry 3 August 2022
PDF
Requisition for July 22, 2022 hearing datePDF
Notice of Application filed July 20, 2022 (returnable July 22, 2022)PDF
Third Report of the Monitor
  • Process results 200 solicited
  • Sale advisor Cushman & Wakefield ULC (listing broker)
  • Sale outcome No acceptable bid — By the Final Bid Deadline, the Monitor had received multiple Final Bids, however, none of those bids was adequately advanced so as to be acceptable to the Monitor and Romspen.
PDF
Affidavit #1 of A. Arenas (filed April 25, 2022)PDF
Order extending stay of proceedings to April 25, 2022
  • Order date 11 April 2022
  • Stay extended to 25 April 2022
PDF
Requisition for April 25, 2022 hearing datePDF
SISP Order
  • Bid deadline 22 June 2022
  • Order date 25 April 2022
  • Outside date 27 July 2022
  • Presiding officer Justice Fitzpatrick
  • + 2 more extracted facts
PDF
Second Report of the Monitor
  • Sale advisor Cushman & Wakefield ULC (listing broker); K.H.M Realty Ltd. (listing broker)
  • Sale outcome Sale process approved — CCAA SISP developed to market Alderbridge's assets, scheduled to commence upon Court approval, with a potential credit bid from the Second Mortgage Lenders
PDF
Affidavit #3 of G. Thom (filed April 22, 2022)PDF
Requisition for April 11, 2022 hearing datePDF
First Report of the MonitorPDF
Notice of Application filed April 6, 2022 (returnable April 11, 2022)PDF
Affidavit #1 of G. Thom (filed April 1, 2022)PDF
Affidavit #1 of J. Alambre (filed April 1, 2022)PDF
Affidavit #2 of G. Thom (filed April 1, 2022)PDF
Affidavit #2 of J. Alambre (filed April 1, 2022)PDF
Filed Petition response of Romspen (April 1, 2022)PDF
Filed Petition to the Court (April 1, 2022)
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role proposed monitor
  • Financial position Assets $351M · as at 31 Dec 2020 · per unaudited (LP 2020 Financial Statements) · Alderbridge Way Limited Partnership (LP) entity-level; not stated as consolidated with GP or 098 — Total assets stated as $351,356,154, comprising cash $67,783, trust deposits $49,298,494, deferred management fees $3,437,989, and construction in progress $298,551,888. Total liabilities not summed by the document; components stated (not to be added): accounts payable and accrued liabilities $83,440,954; secured liabilities under credit facilities $199,415,200; GEC PDA Deposit $60,000,000. Partners' capital stated at $8.5 million (LP December 2020 Financial Statements). Document also notes $251,992,049.69 has been demanded (per First Affidavit of Graham Thom), separate from the balance-sheet liability figures.
  • Secured creditors $94.1M · Note: GEC Demand dated June 9, 2021 states full amount owing under GEC Mortgage was $94,106,654.14 as at June 8, 2021, with interest at 15% per annum; this is the exact dated demand figure used as amount. GEC PDA Deposit of $60,000,000 paid as of Nov 1, 2019 was utilized to advance the Development. Summary table (p.16) separately lists (not summed): deposit/principal $60,000,000 as at July 7, 2021 and interest $35,214,147.67 as at July 7, 2021 (different date than the demand letter). · Page: 13 · As of: 2021-06-08 · Debtor: 0989705 B.C. Ltd. (registered owner of Real Property); Alderbridge Way Limited Partnership (beneficial owner/counterparty to GEC PDA) · Creditor: Global Education City (Richmond) Limited Partnership (GEC), guaranteed by CIBT Education Group Inc. · Security: Third-ranking mortgage against the Real Property, registered principal amount $65,000,000 (GEC Mortgage), granted in connection with the GEC PDA Deposit.
PDF
Initial CCAA Order
  • Applicant 0989705 B.C. Ltd., Alderbridge Way GP Ltd., and Alderbridge Way Limited Partnership
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role Monitor
  • Commencement date 1 April 2022
  • + 4 more extracted facts
PDF
List of Creditors as at April 1, 2022PDF
Sealing Order (Affidavit No. 2 of G. Thom and Affidavit No. 2 of J. Alambre)PDF
Affidavit 1 of W Roitman filed April 1 2022
  • Secured creditors $60M · Note: Related-party overlap: most of the 2MLs are unitholders of Alderbridge LP (a Debtor); Gatland, REV Investments and South Street LP are also Guarantors of Romspen's debt and shareholders of Alderbridge GP (a Debtor). Subordinated and postponed to Romspen pursuant to Second Lien Standstill Agreement dated for reference October 31, 2019. Interest accruing at ~$750,000/month per counsel/Debtor reports. · Page: 3 · As of: summer of 2021 · Debtor: 0989705 B.C. Ltd., Alderbridge Way GP Ltd., and Alderbridge Way Limited Partnership · Creditor: 1185678 B.C. Ltd. (Second Lien Lender), as agent for a group of investors (the "2MLs": R. Jay, J.V. Driver, MNB, Wong Holdings, Gatland, REV Investments, Voth Developments Ltd., Inland Consulting Ltd., Dennis Schwab, Lesley Schwab, and South Street LP) · Security: Second Lien Mortgage on Project Lands; maximum principal amount of the underlying loan/credit facility is $60 million (same as mortgage registration amount)
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First Report of the Proposed Monitor
  • Financial position Assets $351M · Liabilities $343M · as at 31 Dec 2020 · per Unaudited (Management-prepared, not audited or verified by the Proposed Monitor) · Alderbridge Way Limited Partnership only (reflects LP's beneficial ownership of the Property and corresponding liabilities); the GP and 098 do not produce separate financial statements as all assets/liabilities are recorded under the LP — Assets: Cash $0.1M, Trust (pre-sale) deposits $49.3M, Deferred management fees $3.4M, Construction in progress $298.6M. Liabilities: Accounts payable/accrued liabilities $83.4M, Other mortgages payable (CIBT deposit) $60.0M, Mortgages payable (Romspen + 2ML, at original principal value) $199.4M. Partners' capital as of Dec 30, 2020 was $8.5 million.
  • Secured creditors $76.7M · Note: Related parties - unitholders/associated entities of the LP; principal amount was approximately $47,529,000 as of 31-Jan-22, total outstanding including interest $76,693,000 · Page: 7 · As of: 2022-01-31 · Debtor: Alderbridge Way Limited Partnership · Creditor: 2ML Lenders (R. Jay Management Ltd., J.V. Driver Investments Inc., MNB Enterprises Inc., G. Wong Holdings Inc., Gatland Development Corporation, REV Investments Inc., Voth Developments Ltd., Inland Consulting Ltd., Dennis Schwab and Lesley Schwab, and South Street (Alderbridge) Limited Partnership) · Security: Secured second lien loan facility (2ML Loan) provided to fund construction of the Development
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Filing titles, dates, and extracted key facts are public.

CiteProceedings., “0989705 B.C. Ltd., Alderbridge Way GP Ltd. and Alderbridge Way Limited Partnership” (CCAA), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/0989705-bc-ltd-alderbridge-way-gp-ltd-and-alderbridge-way-limited-partnership

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/0989705-bc-ltd-alderbridge-way-gp-ltd-and-alderbridge-way-limited-partnership

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.