District Northwest Limited Partnership and 105 University View Homes Ltd.
Follow- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-246994
District Northwest Limited Partnership and 105 University View Homes Ltd. have been under the receivership of KSV Restructuring Inc. since November 8, 2024, when the Supreme Court of British Columbia appointed it on the application of KingSett Mortgage Corporation under s. 243(1) of the Bankruptcy and Insolvency Act and s. 39 of the Law and Equity Act (file S-246994). KingSett, the senior secured lender under a February 14, 2022 first mortgage commitment of $79,912,500, obtained a judgment order on January 30, 2025 for $88,681,620.18 as of January 6, 2025 plus interest, which confirmed the validity and priority of its security subject only to the Receiver's Charge and the Receiver's Borrowings Charge. Lien claims asserted by BOXX Modular GP Inc. and Core Creative & Strategy Inc. remain unadjudicated. The proceeding remains active.
The officer filed report no. Third Report of the Receiver. The receiver has been marketing the District Northwest development for sale via a Sale Procedure anchored by a stalking horse bid, which terminated after too many pre-sale purchasers rescinded their contracts, and is now proposing an amended sale procedure with a new listing agent (JLL) to continue marketing the property.
Notice of Application of the Receiver dated March 24, 2025 — Application / notice of application
Notice of Application of KingSett Mortgage Corporation dated January 17, 2025 — Application / notice of application
On KingSett Mortgage Corporation's application, the court appointed KSV Restructuring Inc. receiver of both debtors under s. 243(1) of the BIA and s. 39 of the Law and Equity Act.
Undated filings1 — no date appears on the document · show
Debtor
District Northwest Limited Partnership and 105 University View Homes Ltd.
Receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Masuhara | Supreme Court of British Columbia | 4 orders, Nov 2024 – Jun 2025 | 15 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlixPartners | Bennett Jones LLP | 18 Jun 2025 | Application · 18 Jun 2025 |
| ApplicantKingSett Mortgage Corporation | Osler, Hoskin & Harcourt LLP | 21 Jul 2026 | Service list · 21 Jul 2026 |
| DebtorDistrict Northwest Limited Partnership and 105 University View Homes Ltd. | Richards Buell Sutton LLP | 21 Jul 2026 | Service list · 21 Jul 2026 |
| CreditorA & B Tool Rentals Ltd | Sportschuetz & Company Law Corporation | 21 Jul 2026 | Service list · 21 Jul 2026 |
| CreditorFormer Stalking Horse Bidder BOXX Modular GP Inc | Fasken Martineau DuMoulin LLP | 21 Jul 2026 | Service list · 21 Jul 2026 |
| CreditorSubordinate R.A.R | Webster Hudson & Coombe LLP | 21 Jul 2026 | Service list · 21 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | KingSett Mortgage Corporation · in 28 casesFirst mortgage/charge in the principal amount of $70,000,000 and an assignment of rents registered against the Lands; second mortgage/charge in the principal amount of $99,890,625 registered against the Lands; general security agreement dated February 24, 2022 (105 University, as grantor); direction, acknowledgement, and security agreement dated February 24, 2022 (Initial Debtors). The $70,000,000 and $99,890,625 figures are registered principal amounts of the charges, not balances. The KingSett Loan was a first mortgage loan in the original principal amount of $79,912,500 under a commitment l · as of 6 Jan 2025 | $88.7M | Fourth Report of the Receiver dated July 22, 2026 |
| 8 | Unsecured | WorkSafeBC · in 29 casesListed amount of $1.00 CAD indicates amount due is undetermined/unknown, not an actual balance — debtor: Surrey Centre District NW GP Ltd. · as of 2 Apr 2025 | — | Notice and Statement of the Receiver - Surrey Centre District NW GP |
| 8 | Unsecured | BC Ministry of Finance · in 11 casesListed amount of $1.00 CAD indicates amount due is undetermined/unknown, not an actual balance — debtor: Surrey Centre District NW GP Ltd. · as of 2 Apr 2025 | — | Notice and Statement of the Receiver - Surrey Centre District NW GP |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesListed amount of $1.00 CAD indicates amount due is undetermined/unknown, not an actual balance — debtor: Surrey Centre District NW GP Ltd. · as of 2 Apr 2025 | — | Notice and Statement of the Receiver - Surrey Centre District NW GP |
“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.
Liquidation in progress — Amended sale process for the District Project remains ongoing following the mutual termination of the Stalking Horse APSFourth Report of the Receiver dated July 22, 2026 · 22 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1419195 B.C. Ltd.Stalking horsethe Lands and all right, title and interest of the Debtors in all presently owned or held personal property of whatsoever nature and kind pertaining to the Lands · real property · nominee/assignee: BMG City Centre Limited Partnership · agreement 12 Mar 2025 | $86MStalking Horse APS mutually terminated; deposit of $3,000,000 returned | Terminatedoutside 10 Sep 2025 | Fourth Report of the Receiver dated July 22,… |
KingSett Mortgage Corporation: shortfall.EstimatedSecond Report of the Receiver · 24 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredKingSett Indebtedness | KingSett Mortgage Corporation | — | shortfall | Estimatedper the receiver | Second Report of the Receiver · 24 Mar 2025 |
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.
| Date | Document | File |
|---|---|---|
| Ancillary Order dated July 27, 2026 | ||
Fourth Report of the Receiver dated July 22, 2026
| ||
Notice of Application dated July 21, 2026
| ||
Service List as at July 21, 2026
| ||
| Notice to District Northwest Purchasers dated February 4, 2026 | ||
| Notice to District Northwest Purchasers dated July 15, 2025 | ||
Amended Sale Process Order dated June 24, 2025
| ||
Interim Distribution & Ancillary Order dated June 24, 2025
| ||
Notice of Application dated June 18, 2025
| ||
Third Report of the Receiver dated June 18, 2025
| ||
Notice and Statement of the Receiver - Surrey Centre District NW GP
| ||
| Notice to District Northwest Purchasers dated April 22, 2025 | ||
| Acknowledgement of Receipt of Disclosure Statement | ||
| Disclosure Statement dated April 4, 2025 | ||
Amended and Restated Receivership Order dated April 2, 2025
| ||
Sale Process Order dated April 2, 2025
| ||
| Notice of Application of the Receiver dated March 24, 2025 | ||
Second Report of the Receiver dated March 24, 2025
| ||
Judgment Order dated January 30, 2025
| ||
| First Report of the Receiver dated January 21, 2025 | ||
| Affidavit #2 of Daniel Pollack sworn January 17, 2025 | ||
| Notice of Application of KingSett Mortgage Corporation dated January 17, 2025 | ||
| Notice to District Northwest Purchasers dated November 21, 2024 | ||
| Notice & Statement of the Receiver - 105 University View Homes | ||
| Notice & Statement of the Receiver - District Northwest LP | ||
Receivership Order dated November 8, 2024
| ||
| Affidavit of Beckett Reinecke affirmed November 7, 2024 | ||
| Affidavit of Daljit Thind sworn November 7, 2024 | ||
| Response to Petition dated November 7, 2024 | ||
| Notice of Hearing dated October 29, 2024 | ||
| Petition to the Court dated October 11, 2024 | ||
| Affidavit of Daniel Pollack sworn October 9, 2024 | ||
| Notice of Rescission | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “District Northwest Limited Partnership and 105 University View Homes Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/district-northwest-limited-partnership-and-105-university-view-homes-ltd