Proceedings.

Ecoasis Developments LLP et al

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Proceeding
Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
Court
Supreme Court of British Columbia
File
S-243389
Industry
Hospitality & leisure · Recreation & fitness
Filings held87
Last activity9 Apr 2026
On the record490 days
Secured debtSubscribers
OverviewSummary updated

Ecoasis Developments LLP and the related Ecoasis entities have been in receivership since June 16, 2025, when the Supreme Court of British Columbia appointed Alvarez & Marsal Canada Inc. receiver on the application of Sanovest Holdings Ltd. under section 243 of the Bankruptcy and Insolvency Act. Sanovest, a partner in the debtor, holds an unaffected claim of $64,783,526.20 as at November 10, 2025 that is excluded from the claims process, together with a second component of $4,992,563.84 as at December 31, 2025; interest accrues on each thereafter at 8% per annum compounded quarterly. The proceeding is active under court file S-243389.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Claims Process Order dated 27 January 2026.

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Case updates84 dated entries · 3 undated
#Report

The officer filed report no. Tenth Report. The Resorts Business continues to operate (golf, tennis, food & beverage) under interim management while the Receiver advances a sale/investment process; the Court has approved a sale transaction to Groundplay and the Receiver is now pursuing a formal claims process for creditors.

Source: Tenth Report of the Receiver

#Sale

The court granted an approval and vesting order for the sale to Groundplay Developments Ltd. Closing terms, as extracted: Vesting occurs upon delivery by the Receiver to the Purchaser of the Receiver's Certificate confirming all conditions to Closing have been satisfied and/or waived, including payment of the Purchase Price.

Source: Order (Approval and Vesting)

#Order

The court approved a sale and investment solicitation process. A bid deadline of 2025-11-03.

Source: Order (SISP)

Undated filings3 — no date appears on the document · show
—
Filing

Application Response (Groundplay,599 & Matthews) — Application filed

PDF · Subscribers

Parties

Debtor

Ecoasis Developments LLP et al

Receiver

Alvarez & Marsal

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice WalkerSupreme Court of British Columbia15 orders, Sep 2024 – Jan 202631 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverAlvarez & MarsalBlake, Cassels & Graydon LLP9 Apr 2026Service list · 9 Apr 2026
Creditor599315 B.C. Ltd. and Daniel MatthewsBojm, Funt & Gibbons LLP13 Nov 2025Affidavit · 13 Nov 2025
CreditorDaniel Matthews and 599315 B.CBojm, Funt & Gibbons LLP9 Apr 2026Service list · 9 Apr 2026
CreditorGold Tee's Developments LtdEyford Partners LLP9 Apr 2026Service list · 9 Apr 2026
CreditorHSBC Trust Company (Canada) and Royal Bank of CanadaPoulsen & Company9 Apr 2026Service list · 9 Apr 2026
CreditorSanovest Holdings LtdFasken Martineau DuMoulin LLP10 Sep 2024Order · 10 Sep 2024
CreditorSanovest Holdings Ltd., Tian Kusumoto and TRK Investments CorporationFasken Martineau DuMoulin LLP13 Nov 2025Affidavit · 13 Nov 2025
CreditorStrata Plan VISBoughton Law Corporation9 Apr 2026Service list · 9 Apr 2026
CreditorYoung Anderson c / oSingleton Urquhart Reynolds Vogel LLP9 Apr 2026Service list · 9 Apr 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
Priority classCreditorAmountSource
SecuredSanovest Holdings Ltd. · in 2 casesUnaffected Claim (excluded from Claims Process/compromise) per definition; related party (Partner). Interest accrues thereafter at 8% per annum compounded quarterly. — debtor: Ecoasis Developments LLP and/or Ecoasis Entities · as of 10 Nov 2025$64.8MClaims Notice
Secured

1 more claim in 1 class The stack holds Secured claims.

Every creditor and every amount, drawn to scale.

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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.

Sale processAs stated in the filings

2 transactions · 1 closed · 1 not completed — Receiver certifies the Purchase Price was paid, closing conditions satisfied or waived, and the Transaction completed; certificate delivered at Closing on March 20, 2026.Receiver's Certificate · 20 Mar 2026

Bid deadline (round closed)

3 November 2025

Order (SISP)

Stalking horse

None

Seventh Report of the Receiver

PurchaserPriceStatusSource
Groundplay Developments Ltd.the Purchased Assets set out in the Sale Agreement (excluding Excluded Assets), including the Bear Mountain Property and other real property listed in Schedule 'E' · asset sale · agreement 21 Jan 2026SubscribersClosed20 Mar 2026Receiver's Certificate
Sanovesta revised bid received from Sanovest on November 21, 2025 (the 'Second Sanovest Bid') · asset salenot statedNot completedoutside 31 Dec 2025Tenth Report of the Receiver
AdvisorsColliers (listing broker)Tenth Report of the Receiver
Closing termsVesting occurs upon delivery by the Receiver to the Purchaser of the Receiver's Certificate confirming all conditions to Closing have been satisfied and/or waived, including payment of the Purchase Price.Order (Approval and Vesting)
RecoveriesAs stated in the filings

Unsecured creditors: paid in full.EstimatedEighth Report of the Receiver · 24 Nov 2025

ClassCreditorClaimsRecoveryBasisSource
Secured—estimatedpaid in fullEstimatedper the receiverEighth Report of the Receiver · 24 Nov 2025
Unsecured——paid in fullEstimatedper the receiverEighth Report of the Receiver · 24 Nov 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.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Estate financialsReported figures — never derived

Cumulative receipts

$12.1M

As at 16 Jan 2026Tenth Report of the Receiver

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures

Each one as the filing states it, with its source.

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Documents
87 filings
DateDocumentFile
Service List
  • Counsel Boughton Law Corporation
PDF · Subscribers
ApplicationPDF · Subscribers
Notice of Appearance (Sanovest)PDF · Subscribers
Notice of AppearancePDF · Subscribers
Notice of AppealPDF · Subscribers
Instruction LetterPDF · Subscribers
Notice of Application (Borrowings Increase)PDF · Subscribers
Notice of Application (Claims Process)PDF · Subscribers
Order (Borrowings Increase)
  • Presiding officer Justice P. Walker
PDF · Subscribers
Order (Claims Process)
  • Presiding officer Justice P. Walker
PDF · Subscribers
Tenth Report of the Receiver
  • Operational summary The Resorts Business continues to operate (golf, tennis, food & beverage) under interim management while the Receiver advances a sale/investment process; the Court has approved a sale transaction to Groundplay and the Receiver is now pursuing a formal claims process for creditors.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
Order (Approval and Vesting)
  • Closing terms Vesting occurs upon delivery by the Receiver to the Purchaser of the Receiver's Certificate confirming all conditions to Closing have been satisfied and/or waived, including payment of the Purchase Price.
  • Order date 21 January 2026
  • Presiding officer Justice P. Walker
  • Purchaser Groundplay Developments Ltd. · the Purchased Assets set out in the Sale Agreement (excluding Excluded Assets), including the Bear Mountain Property and other real property listed in Schedule 'E' · asset sale · approved
  • + 2 more extracted facts
PDF · Subscribers
Affidavit #8 of Tian KusumotoPDF · Subscribers
Supplement to the Ninth Report of the ReceiverPDF · Subscribers
Requisition to re-set hearing of applicationsPDF · Subscribers
Entered Order made after Application (Slip Rule)
  • Presiding officer Justice Walker
PDF · Subscribers
Affidavit #1 of Lisa HiebertPDF · Subscribers
Affidavit #6 of Mia LiangPDF · Subscribers
Affidavit #7 of Tian KusumotoPDF · Subscribers
Affidavit #9 of D. MatthewsPDF · Subscribers
Application Response of SanovestPDF · Subscribers
Affidavit #4 of Suzanne VolkowPDF · Subscribers
Ninth Report of the ReceiverPDF · Subscribers
Eighth Report of the Receiver
  • Recovery outcome Entries: per estimated; per estimated · Stated on: 2025-11-24 · Table missing:
PDF · Subscribers
Affidavit #4 of Mia Liang
  • Counsel Fasken Martineau DuMoulin LLP
PDF · Subscribers
Notice of ApplicationPDF · Subscribers
Order Made After Application
  • Presiding officer Justice Walker
PDF · Subscribers
Affidavit #7 of D. Matthews filed October 31, 2025PDF · Subscribers
Application ResponsePDF · Subscribers
Affidavit #2 of Mia LiangPDF · Subscribers
Affidavit #4 of Tian KusumotoPDF · Subscribers
Affidavit #1 of Kim PicardPDF · Subscribers
Affidavit #6 of Daniel MatthewsPDF · Subscribers
Amendment of Receivership Order
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role receiver and manager
  • Commencement date 10 July 2025
  • Court IN THE SUPREME COURT OF BRITISH COLUMBIA
  • + 2 more extracted facts
PDF · Subscribers
Application BookPDF · Subscribers
Entered Sealing Order of Justice Walker
  • Presiding officer Justice Walker
PDF · Subscribers
Order
  • Presiding officer Justice Walker
PDF · Subscribers
Affidavit #1 of Zhao (Vivienne) ZhangPDF · Subscribers
Affidavit #4 of Daniel MatthewsPDF · Subscribers
Daniel Matthews and 599’s response to Sanovest’s application to amend the receivership order
  • Applicant Sanovest Holdings Ltd.
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role receiver
  • Commencement date 16 June 2025
  • + 1 more extracted fact
PDF · Subscribers
Daniel Matthews and 599’sresponse to Sanovest’s application concerning the litigation schedulePDF · Subscribers
Notice of Change of LawyerPDF · Subscribers
Entered Adjournment Order
  • Presiding officer Justice Walker
PDF · Subscribers
Notice of Application for Sealing OrderPDF · Subscribers
Requisition to Re-set Hearing to June 23, 2025PDF · Subscribers
Sealing Order
  • Presiding officer Justice Walker
PDF · Subscribers
Notice of WithdrawalPDF · Subscribers
Affidavit #3 of J. BeaulieuPDF · Subscribers
Fifth Report of the ReceiverPDF · Subscribers
Notice of Application for Case Plan OrderPDF · Subscribers
1st Supplemental Affidavit of Tian KusumotoPDF · Subscribers
Notice of Application Declaration of Secured DebtPDF · Subscribers
d Notice of Application Receivership OrderPDF · Subscribers
Supplement to the Fourth ReportPDF · Subscribers
Affidavit #3 of Suzanne VolkowPDF · Subscribers
Affidavit #3 of Tian KusumotoPDF · Subscribers
Fourth Report of the ReceiverPDF · Subscribers
Notice of Application (Advice and Directions)PDF · Subscribers
Order (Filing of Reports)
  • Presiding officer Justice Walker
PDF · Subscribers
Notice of Application -599315 B.C. Ltd. and Daniel Matthews
  • Counsel Fasken Martineau LLP
PDF · Subscribers
Application Response of 599315 B.C. Ltd. and Daniel MatthewsPDF · Subscribers
Application Response of BM Resort filed January 28, 2025PDF · Subscribers
Third Report of the ReceiverPDF · Subscribers
Second Report of the ReceiverPDF · Subscribers
Ecoasis et al From 87PDF · Subscribers
First Report of the Receiver
PDF · Subscribers
Claims Notice
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Entered Order Made After Application made September 18, 2024
  • Appointee Alvarez & Marsal Canada Inc.
  • Appointee role receiver and manager
  • Commencement date 18 September 2024
  • Court THE SUPREME COURT OF BRITISH COLUMBIA
  • + 3 more extracted facts
PDF · Subscribers
Notice of Application (Amend Receivership Order)PDF · Subscribers
Order (SISP)
  • Bid deadline 3 November 2025
  • Order date 15 July 2025
  • Outside date 31 December 2025
  • Break fee Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Proof of Claim FormPDF · Subscribers
Receiver's Certificate
  • Closing confirmed Closed · 20 Mar 2026 · Groundplay Developments Limited Partnership
  • Sale outcome Sale closed — Receiver certifies the Purchase Price was paid, closing conditions satisfied or waived, and the Transaction completed; certificate delivered at Closing on March 20, 2026.
PDF · Subscribers
Seventh Report of the Receiver
  • Sale advisor Colliers Macaulay Nicolls Inc. (listing broker)
  • Sale outcome Liquidation in progress — SISP approved and marketing/sales process underway, with LOIs received and qualified bidders designated
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit #1 of J. BeaulieuPDF · Subscribers
Order Made After Application – September 10, 2024
  • Presiding officer Justice Walker
PDF · Subscribers
Sealing Order – September 10, 2024
  • Counsel Fasken Martineau LLP
  • Presiding officer Justice Walker
PDF · Subscribers
Affidavit #1 of Robert LarocquePDF · Subscribers
Affidavit #1 of Irene LeePDF · Subscribers
Affidavit #2 of Tian KusumotoPDF · Subscribers
Affidavit #1 of Daniel MatthewsPDF · Subscribers
Affidavit #2 of Suzanne VolkowPDF · Subscribers
Affidavit #1 of Tian KusumotoPDF · Subscribers
Affidavit #1 of Suzanne VolkowPDF · Subscribers
Sixth Report of the ReceiverPDF · Subscribers
Application Response (Groundplay,599 & Matthews)PDF · Subscribers
Petition to the CourtPDF · Subscribers
Response to PetitionPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Ecoasis Developments LLP et al” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/ecoasis-developments-llp-et-al

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Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/ecoasis-developments-llp-et-al

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.