#Sale
The court granted a reverse vesting order in favour of 1582163 B.C. Ltd.
Source: Order Approving SISP, Stalking Horse, and Conditional RVO
1077065 BC Ltd. and 0997691 BC Ltd.
FollowActive
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- H-241158
Filings held6
Last activity4 May 2026
On the record238 days
Secured debt$61M
OverviewSummary updated
1077065 BC Ltd. and 0997691 BC Ltd. have been in court-appointed receivership since January 26, 2026, when the Supreme Court of British Columbia made a receivership order over the two companies under section 243 of the Bankruptcy and Insolvency Act and provincial judicature legislation. The application that produced the order was filed the same day, and the proceeding carries Vancouver Registry court file number H-241158. The receivership remains active. The record before this page identifies no further steps: no receiver's reports, sale process, claims procedure or scheduled hearings have been entered on it.
Proceedings AIAsk this case — answers cite the filings
Case updates6 dated entries
#Filing
The application seeking the appointment of a receiver over the two companies was filed with the court, and was disposed of the same day.
Source: Notice of Application
#Order
The Supreme Court of British Columbia placed both companies in receivership under BIA s. 243 and provincial judicature legislation, commencing the proceeding under file H-241158.
Source: Receivership Order
Parties
Debtor
1077065 BC Ltd. and 0997691 BC Ltd.
Receiver
MNP
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Valiant Mortgage Inc. and 1508878 B.C. Ltd. (petitioners, first mortgagee)First mortgage over the Lands — Plus legal costs and protective disbursements; interest accruing at 21.7% per annum compounded monthly, per diem rate of $36,237.40 — debtor: 1077065 B.C. Ltd. and 0997691 B.C. Ltd. (Borrowers) · as of 31 Dec 2025 | $61M | Affidavit #2 of Kuba Grabowski |
| Secured | Taxing authority (municipal property tax arrears)Statutory lien for property tax arrears on the Lands — Stated to rank in priority to petitioners' mortgage; additional 2026 property tax to be assessed — debtor: Borrowers · as of 15 Sep 2025 | $912K | Affidavit #2 of Kuba Grabowski |
| Secured | 1230944 B.C. Ltd. (fourth mortgagee)Fourth mortgage over the Lands — Amount of indebtedness not stated; obtained an appraisal of the Lands as at January 18, 2025 ($59,700,000 market value / $54,415,000 immediate sale value in aggregate); did not receive offers during its marketing efforts — debtor: Borrowers | — | Affidavit #2 of Kuba Grabowski |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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.
Sale processAs stated in the filings
Sale approved — The Transaction with the Stalking Horse Bidder is authorized, ratified and approved effective upon the Receiver filing a certificate that no other Qualified Bids were received by the Bid Deadline.Order Approving SISP, Stalking Horse, and Conditional RVO · 4 May 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1582163 B.C. Ltd.Stalking horsethe Purchased Assets (as defined in the Sale Agreement), including the Shares, the Lands and the Buildings · assets and shares · ResidualCo: ResidualCo · agreement 28 Apr 2026 | not stated | Approved4 May 2026 | Order Approving SISP, Stalking Horse, and… |
AdvisorsKhela Real Estate Group (listing broker); Colliers Macaulay Nicholls Inc. (listing broker)Receiver's First Report to Court
Closing termsVesting occurs upon delivery of the Closing Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction, in a specified sequence.Order Approving SISP, Stalking Horse, and Conditional RVO
RecoveriesAs stated in the filings
Unsecured creditors: no distribution. First Mortgagee short.EstimatedReceiver's First Report to Court · 28 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | the First Mortgagee and all junior-ranking creditors | — | shortfall | per the receiver | Notice of Application · 27 Apr 2026 |
| Secured | First Mortgagee | — | shortfall | Estimatedper the receiver | Receiver's First Report to Court · 28 Apr 2026 |
| Unsecured | junior creditors (creditors junior to the First Mortgagee) | — | no distribution | Estimatedper the receiver | Receiver's First Report to Court · 28 Apr 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.
Documents6 filings
| Date | Document | File |
|---|---|---|
| Order Approving Receivers Activities | ||
Order Approving SISP, Stalking Horse, and Conditional RVO
| ||
Receiver's First Report to Court
| ||
Notice of Application
| ||
Receivership Order
| ||
Affidavit #2 of Kuba Grabowski
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “1077065 BC Ltd. and 0997691 BC Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/1077065-bc-ltd-and-0997691-bc-ltd