Boynton Developments (Kelowna) Ltd. et al.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the BIA and Section 39 of the LEA
- File
- VLC-S-H-250780
- Industry
- Real estate · Residential development
Boynton Developments (Kelowna) Ltd. and related respondents are in a court-appointed receivership commenced August 15, 2025 under s. 243 of the BIA and provincial judicature legislation; the proceeding remains active. KV Capital Inc., lender under a $19,455,000 mortgage loan commitment, was owed $7,583,290.88 as at June 6, 2025 plus interest at 11% per annum compounded monthly, secured by a mortgage and assignment of rents over 665 and 685 Boynton Place, Kelowna (PID 027-456-633), a general security agreement, and unlimited guarantees from Boynton (Kelowna) LP, Promintory Developments LP, Promintory Developments Inc. and Robert Aird Fraser. A forbearance agreement was entered June 13, 2025. Travelers' security ranks behind KV's under a priority agreement dated December 5, 2023. Title also carries builders' lien claims and certificates of pending litigation, an Evest Real Estate Nominee Corp. mortgage, and a Zenex Capital Corp. judgment.
The officer filed report no. Third Report. The Debtors' townhome development project was left partially constructed after construction ceased in 2024; the Receiver has been marketing the property and negotiating a new sale (the Highland transaction) after prior approved sales failed to close.
Source: Receiver's Third Report to Court
The court appointed MNP Ltd. as Receiver, on the application of KV Capital Inc.. Court file VLC-S-H-250780.
Receiver's Certificate - Promintory Developments Limited Partnership — Court officer certificate
The court appointed MNP Ltd. as Receiver, on the application of KV CAPITAL INC.. Court file H-250780.
Source: Receivership Order
Outcome brief
The Promontory: four approvals, one closing, and KV's mortgage stays
A year into the receivership of Boynton Developments (Kelowna) Ltd. and three affiliates, the court approved four sales of a half-built Kelowna townhome site and one closed — a share sale to Highland Promontory Development Limited Partnership that paid the priority claims in cash and left KV Capital's mortgage on the land. KV, owed $8,569,553 in May, is to receive about $85,000 from the estate, and the receiver says nothing will reach junior creditors.
Debtor
Boynton Developments (Kelowna) Ltd. et al.
Applicant
KV Capital Inc.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Wilkinson | Supreme Court of British Columbia | 3 orders, Apr 2026 – Aug 2026 | 9 cases on record |
Counsel of record
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | KV Capital Inc. · in 3 casesMortgage and Assignment of Rents (registered Kamloops LTO Dec 1, 2023, CB1056533/CB1056534) over PID 027-456-633; GSA dated Oct 12, 2023 (BC PPR base reg. 816871P) over all present/after-acquired personal property; unlimited Guarantee from Boynton (Kelowna) LP, Promintory Developments LP, Promintory Developments Inc., and Robert Aird Fraser; Title Insurance; Environmental Indemnity; Assignment of Material Contracts — Original Commitment Letter (July 21, 2023) principal was $19,455,000 (facility limit/original advance, not balance). Petition (para 20) states 'in excess of $7.5 million' in prose · as of 6 Jun 2025 | $7.58M | Petition to the Court |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
26 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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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.
3 transactions · 2 not completed · 1 closed — The Final Highland Transaction closed on August 28, 2026, following two prior failed transactions with Highland and one with 156.Receiver's Fourth Report to Court · 15 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1568306 B.C. Ltd.the transaction contemplated by the Offer to Purchase and Contract of Purchase and Sale Agreement between 1568306 B.C. Ltd. and the Receiver · asset sale · ResidualCo: Residual Co · agreement 11 May 2026 | not stated | Not completeddate not stated | Receiver's Third Report to Court |
| Highlandthe sale transaction (the "Highland Transaction") contemplated by the Offer to Purchase and Contract of Purchase and Sale Agreement between Highland · asset sale · agreement 22 Apr 2026 | not stated | Not completed8 May 2026outside 25 May 2026 | Receiver's Certificate |
| Highland Promontory Development Limited Partnershipthe Property · share sale · agreement 23 Jul 2026 | Sealed | Closed28 Aug 2026 | Receiver's Fourth Report to Court |
Closed · the record states no distribution outcome.
Cumulative receipts
$1.61M
As at 28 Jul 2026Receiver's Third Report to Court
Cumulative disbursements
As at
Cash on hand
As at
2 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Discharge Order
| PDF · Subscribers | |
| Affidavit 2 of C. Curran | PDF · Subscribers | |
| Affidavit 1 of D. Chivers | PDF · Subscribers | |
| Affidavit 1 of W. Roberts | PDF · Subscribers | |
Receiver's Fourth Report to Court
| PDF · Subscribers | |
| Order - Order Made After Application | PDF · Subscribers | |
Receiver's Third Report to Court
| PDF · Subscribers | |
Approval and Reverse Vesting Order
| PDF · Subscribers | |
Order Approving Back-up Bid
| PDF · Subscribers | |
Receiver's Certificate
| PDF · Subscribers | |
Order - Approval and Reverse Vesting Order
| PDF · Subscribers | |
Service List – dated 2026-03-30
| PDF · Subscribers | |
| Requisition | PDF · Subscribers | |
Affidavit 1 of C. Curran
| PDF · Subscribers | |
| Notice of Application – dated 2026-03-24 | PDF · Subscribers | |
| Receiver's Second Report to Court | PDF · Subscribers | |
Service List – dated 2026-02-02
| PDF · Subscribers | |
Service List – dated 2026-01-30
| PDF · Subscribers | |
Service List – dated 2025-10-22
| PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
Order - Amended and Restated Receivership Order
| PDF · Subscribers | |
| Order - Approval of Activities | PDF · Subscribers | |
| Sealing Order | PDF · Subscribers | |
Receiver's First Report to Court
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Receiver's Certificate - Boynton (Kelowna) Limited Partnership | PDF · Subscribers | |
| Receiver's Certificate - Boynton Developments (Kelowna) Ltd. | PDF · Subscribers | |
| Receiver's Certificate - Promintory Developments Inc. | PDF · Subscribers | |
| Receiver's Certificate - Promintory Developments Limited Partnership | PDF · Subscribers | |
| Form 87 - Notice and Statement of the Receiver | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Petition to the Court
| 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., “Boynton Developments (Kelowna) Ltd. et al.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/boynton-developments-kelowna-ltd-et-al