464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd.
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- S-264260
- Industry
- Real estate · Residential development
464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd. commenced CCAA proceedings in British Columbia on June 8, 2026, after their construction lender moved to enforce. Envision Financial, a division of Tru Cooperative Bank, issued a formal demand for repayment and a notice of intention to enforce security on May 5, 2026 in respect of approximately $48.3 million advanced under construction financing for the project, secured by a first fixed charge mortgage over the property and first-ranking security in the petitioners' personal property, with indemnities from Kind Development Group Ltd., Robert Chetner and Jun Bi. As at June 5, 2026 the petitioners owed approximately $55.6 million, including approximately $7.3 million to trade creditors, of which approximately $6.5 million is builders lien claims registered by Kindred Construction Ltd. and sub-trades. The partnership's unaudited statements show assets of $87,230,804 at December 31, 2025.
The officer filed report no. Third Report of the Monitor. Construction on the Eagle View Heights project is paused; the Monitor intends to enter a roughly $3.7 million fixed-price contract with Panorama West Group as general contractor, with construction expected to restart September 22, 2026 and conclude December 18, 2026, subject to court approval. Only an initial $1.8 million DIP draw has been taken, and no further draws have been requested.
Source: Third Report of the Monitor
The stay of proceedings was extended to January 15, 2027, allowing the petitioners to recommence and complete construction of the development for conveyance to pre-sale purchasers.
Source: Stay Extension Order
The officer filed report no. Second Report of the Monitor. The Petitioners are completing the Eagle View Heights residential development in Gibsons, BC under CCAA protection. Construction is suspended pending selection of a general contractor, a Town stop work order over Park grading is being remediated, and the strata plan has been submitted for registration to enable pre-sale unit closings.
Source: Second Report of the Monitor
The Monitor's First Report put the petitioners' debts at approximately $55.6 million, including approximately $48.3 million to Envision Financial and $7.3 million to trade creditors, and supported a stay extension to recommence construction.
Source: First Report of the Monitor
Notice of Application - Amended and Restated Initial Order — Application / notice of application
The Supreme Court of British Columbia granted the initial order in file S-264260, appointing FTI Consulting Canada Inc. as monitor, with the stay running to June 18, 2026.
Source: Initial Order
464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd. — CCAA filed, British Columbia.
Source: Initial Order
Case update
Eagle View Heights: Panorama's fixed price and the lender's objection to Kindred
FTI Consulting, as monitor, asks the court, at a hearing set for October 7, to approve a $3,819,732 fixed-price contract, before GST, for a Panorama West Group subsidiary to finish the 63-home Gibsons project. The interim lender, FTI reports, would oppose any go-forward proposal involving Kindred Construction, the incumbent general contractor.
Case update
Eagle View Heights: two fixed-price budgets to finish 63 homes in Gibsons
Three months into the CCAA of the partnership behind a 63-home Gibsons development, construction has not restarted, and the monitor is choosing between fixed-price budgets from Kindred Construction, the incumbent owed about $3.8 million, and a contractor proposed by the developer's side, with $1.8 million of a $6.75 million interim facility drawn and the stay now running to January 15, 2027.
Debtor
464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd.
Monitor
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Coval | Supreme Court of British Columbia | 1 order, Oct 2026 | 16 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Debtor464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd. | Bridgehouse Law LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorCanex Building Supplies Ltd | Baker Newby LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorFirst West Credit Union / Envision Financial | Baker Newby LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorGalaxy IDP Construction Ltd | Gabri Law Corporation | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorKindred Construction Ltd | Burrard Law LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorMunro Woodworking Ltd | Jenkins Marzban Logan LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorOne Degree HVAC Service Group | Fasken Martineau DuMoulin LLP | 11 Jun 2026 | Service list · 11 Jun 2026 |
| CreditorSunbelt Rentals of Canada Inc | CSP Law Corp | 11 Jun 2026 | Service list · 11 Jun 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Kindred Construction Ltd. (claim of lien)Claim of lien registered against the project lands — Amount is the lien amount as filed on January 22, 2026. Separately, Kindred was owed approximately $3.8 million in Arrears as of the date of the Initial Order (June 8, 2026) (prose approximation). Under the Revised Kindred Proposal, a portion of the Arrears would be paid to satisfy key Trades and the balance would remain subordinated to the Interim Lender's mortgage. Kindred is also the pre-filing construction manager and a lien claimant per the service list. — debtor: Petitioners (claim of lien against the project lands) · as of 22 Jan 2026 | $3.3M | Notice of Application - CM Agreement |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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See all plansAs at ·
Cumulative receipts
$2.02K
As at 4 Sep 2026Second Report of the Monitor
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Advice and Direction Order
| PDF · Subscribers | |
Notice of Application - CM Agreement
| PDF · Subscribers | |
Supplement to The Third Report of the Monitor
| PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
| Notice of Application - Stay Extension Order | PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Notice of Application - Amended and Restated Initial Order
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Affidavit #1 of Jun Bi
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
List of Known Creditors
| PDF · Subscribers | |
| Notice of Hearing | PDF · Subscribers | |
Petition
| PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| 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., “464 Eaglecrest Drive Limited Partnership, TCD Developments (Gibsons) Ltd. and 464 Eaglecrest Drive Properties Ltd.” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/464-eaglecrest-drive-limited-partnership-tcd-developments-gibsons-ltd-and-464-ea