3000 Henry Street Limited Partnership and 0790857 B.C. Ltd.

3000 Henry Street Limited Partnership and 0790857 B.C. Ltd. were placed in court-appointed receivership by the Supreme Court of British Columbia under BIA s. 243, in Court File No. S-244083, by a Receivership Order dated July 29, 2024. Default under KingSett Mortgage Corporation's facility followed the Henry Street limited partners' refusal to fund further cash calls in January 2024; the KingSett Indebtedness stood at $14,031,523.60 as at September 19, 2024, secured by a first-ranking collateral mortgage over the real property and a general security agreement, with interest and costs continuing to accrue. Cassels, as independent counsel, opined that KingSett holds valid security against the property. The Debtors' other pre-filing obligations totalled approximately $1.3 million at the date of the Receivership Order. The proceeding is closed.