1075 Nelson Development LP and related respondents have been in court-appointed receivership under section 243 of the BIA since July 25, 2025. The proceeding follows the maturity on April 30, 2025 of a $90,000,000 loan facility under a June 7, 2024 credit agreement, as amended, with Royal Bank of Canada as administrative agent for a syndicate including Meridian Credit Union and Bank of Montreal. Total indebtedness under that facility stood at $91,204,611.06 as of July 10, 2025, accruing at a per diem rate of $18,369.87. The debt is guaranteed by 1075 Nelson Development GP Inc., 1075 Nelson Development Holdings Inc., Brivia Family Investments Inc. and, personally, by Kheng Ly. Title to the development property also carries mortgages registered in favour of Travelers Insurance Company of Canada, 1409658 B.C. Ltd., HSBC Bank Canada and KingSett Mortgage Corporation; priority agreements rank the RBC mortgage ahead of the 1409658 and Travelers charges. The matter remains active.
Receiver's First Report: the CURV pre-sale condominium project never proceeded to construction, every pre-sale contract has been terminated, and the Receiver is pursuing deposits, interest and advance commissions, holding $1,214,286 at August 19, 2026.
Source: First Report of the Receiver
16 earlier updates, back to 25 July 2025 — subscribers.
Case update
1075 Nelson: a $91 million letter and a guarantor's defence
A year into Deloitte's receivership of the CURV tower site in Vancouver's West End, the pre-sales are gone, a $1,419,865 permit fee is back and no offer is reported; the receiver asks leave to pay the RBC-led syndicate, owed $92,969,843.93 at October 15, 2025, and answers a guarantor, Brivia Group's Kheng Ly, who says an August 2025 letter of intent at $91 million was let slip.
Debtor
1075 Nelson Development LP et al.
Applicant
RBC
Receiver
Deloitte
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDeloitte | Dla Piper LLP | 26 May 2026 | Service list · 26 May 2026 |
| CreditorRoyal Bank of Canada | Dentons Canada LLP | 26 May 2026 | Service list · 26 May 2026 |
| CreditorThomas Patrick McNeilage | Watson Goepel LLP | 26 May 2026 | Service list · 26 May 2026 |
| CreditorTravelers Insurance Company of Canada | Borden Ladner Gervais LLP | 26 May 2026 | Service list · 26 May 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada (as agent for lending syndicate: RBC, Bank of Montreal, Meridian Credit Union) · in 556 casesMortgage and assignment of rents (principal amount $108,000,000, as modified from original $90,000,000), GSA over all present and after-acquired personal property, mortgage of beneficial interest of the Lands, unlimited joint and several guarantee, debt service agreement, environmental indemnity — RBC by predecessor by amalgamation HSBC Bank Canada; senior secured creditor and administrative/collateral agent for syndicate of RBC, BMO, Meridian under Interlender Agreement — debtor: 1075 Nelson Development Limited Partnership (and Nominee/GP) · as of 10 Jul 2025 | $91.2M | Affidavit #1 of S. Kovesdi |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Syndicate: shortfall.EstimatedFirst Report of the Receiver · 31 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Syndicate | — | shortfall | Estimatedper the receiver | First Report of the Receiver · 31 Aug 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.
Cumulative receipts
$2.16M
As at 31 Aug 2026First Report of the Receiver
| Date | Document | File |
|---|---|---|
First Report of the Receiver
| PDF · Subscribers | |
| Supplement to the First Report of the Receiver | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Affidavit #1 of K. Ly | PDF · Subscribers | |
| Response to Petition (K. Ly) | PDF · Subscribers | |
| Affidavit #1 of I. Konstantopoulos | PDF · Subscribers | |
| A ffidavit #1 of A. Arenas | PDF · Subscribers | |
| Notice of Hearing returnable October 15, 2025 | PDF · Subscribers | |
| Order Nisi | PDF · Subscribers | |
| State of Title Certificate | PDF · Subscribers | |
| Statement of Relief Sought | PDF · Subscribers | |
| Notice and Statement of Receiver | PDF · Subscribers | |
| Communication #1 to Presale Buyers | PDF · Subscribers | |
Notice of Application returnable July 25, 2025
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit #2 of N. Sidhu | PDF · Subscribers | |
Affidavit #1 of N. Sidhu
| PDF · Subscribers | |
Affidavit #1 of S. Kovesdi
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “1075 Nelson Development LP et al.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/1075-nelson-development-lp-et-al
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/1075-nelson-development-lp-et-al
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.