31519 Investments Ltd., 31519 East 2nd Limited Partnership and 31519 GP Ltd.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-261536
- Industry
- Real estate · Rental & income property
31519 Investments Ltd., 31519 East 2nd Limited Partnership and 31519 GP Ltd. have been in court-appointed receivership since March 30, 2026, brought under section 243 of the Bankruptcy and Insolvency Act together with provincial Judicature Act authority. The receivership covers the corporate general partner, the limited partnership and the related investment company as a single proceeding. The matter remains active. No charges have been granted against the debtors' property, and no subsequent steps have been recorded on the file to date.
Justice Milman approved a sale process; the listing agreement was executed, with Cushman & Wakefield ULC and Marcus & Millichap Real Estate Investment Services Canada Inc. acting as listing brokers.
Source: Order Made after Application (Sales Process Order) dated September 14, 2026
Supplement to the First Report of the Receiver dated September 3, 2026 — Court officer report
KSV Restructuring Inc. appointed receiver over the three debtors; unsecured claims aggregated $58,800 at the order date on the debtors' books, against IMC's mortgage and related security over 1888 Scotia Street, Vancouver.
31519 Investments Ltd., 31519 East 2nd Limited Partnership and 31519 GP Ltd. — Receivership filed, British Columbia.
Institutional Mortgage Capital Canada Inc., as general partner of IMC Limited Partnership, petitioned the Supreme Court of British Columbia, file S-261536, for a receiver; indebtedness under the loan stood at $79,271,630.22 as at January 19, 2026.
Case update
Chroma: leased to 82%, the receiver asks to sell
The borrowers behind Chroma, a 133-unit rental building at East 2nd Avenue and Scotia Street in Vancouver, made the first payment on their CMHC-insured mortgage loan and missed the second. Five months into the receivership, AlixPartners has taken residential leasing from 57% to 82% and asks the court on September 14 to approve a sale process and a two-brokerage listing at $76,385,000.
Debtor
31519 Investments Ltd., 31519 East 2nd Limited Partnership and 31519 GP Ltd.
Applicant
Institutional Mortgage Capital Canada Inc.
Receiver
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Milman | Supreme Court of British Columbia | 2 orders, Mar 2026 – Sep 2026 | 17 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKSV | Osler, Hoskin & Harcourt LLP | 19 May 2026 | Service list · 19 May 2026 |
| ApplicantInstitutional Mortgage Capital Canada Inc. | Lawson Lundell LLP | 19 May 2026 | Service list · 19 May 2026 |
| CreditorMomenta Properties Inc., Yulead Holdings Ltd | Nathanson Schachter & Thompson LLP | 19 May 2026 | Service list · 19 May 2026 |
| CreditorOceanpeak Enterprises Ltd | Pryke Lambert Leathley Russell LLP | 19 May 2026 | Service list · 19 May 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Institutional Mortgage Capital Canada Inc., in its capacity as general partner of IMC Limited PartnershipForm B Mortgage (registered principal $76,385,167.72) and Assignment of Rents registered against 1888 Scotia Street, Vancouver; Equitable Mortgage (Beneficial Owner Agreement); Location Specific Security Agreement (LSSA); Assignment of Contracts, Deposits, Permits and Plans; Assignment of Insurance Proceeds; Guarantee dated May 27, 2025 from Guarantors — Amount stated is total Indebtedness owed pursuant to the Loan as at January 19, 2026, distinct from the $76,385,167.72 mortgage principal/original advance. Guarantors include Personal Guarantors Shao Ming Yang, Zheng Yu Huang and Tian Tony Zha · as of 19 Jan 2026 | $79.3M | Petition Record dated March 2, 2026 |
| 8 | Unsecured |
1 more claim in 1 class The stack holds Secured and Unsecured claims.
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See all plansThis 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.
Marketed — Listing Agreement executed, sale process to proceed via listing brokerageSupplement to the First Report of the Receiver dated September 3, 2026 · 3 Sep 2026
| Date | Document | File |
|---|---|---|
Service List WIP as at September 16, 2026
| PDF · Subscribers | |
Order Made after Application (Sales Process Order) dated September 14, 2026
| PDF · Subscribers | |
| Application Record dated September 10, 2026 | PDF · Subscribers | |
| Book of Authorities dated September 10, 2026 | PDF · Subscribers | |
Service List as at September 3, 2026
| PDF · Subscribers | |
Supplement to the First Report of the Receiver dated September 3, 2026
| PDF · Subscribers | |
First Report of the Receiver dated August 31, 2026
| PDF · Subscribers | |
| Notice of Application dated August 31, 2026 | PDF · Subscribers | |
Service List as at August 29, 2026
| PDF · Subscribers | |
Service List as at May 19, 2026
| PDF · Subscribers | |
Receivership Order dated March 30, 2026
| PDF · Subscribers | |
Petition Record dated March 2, 2026
| 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., “31519 Investments Ltd., 31519 East 2nd Limited Partnership and 31519 GP Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/31519-investments-ltd-31519-east-2nd-limited-partnership-and-31519-gp-ltd