Kuang Wan Fang
- Proceeding
- Receivership (court-appointed)Section 39 of the Law and Equity Act, R.S.B.C. 1996 c. 253
- File
- S015937
Kuang Wan Fang, also known as Wendy Wan Fang Kuang, is subject to a court-appointed receivership ordered by the Supreme Court of British Columbia on March 3, 2023 under section 39 of the Law and Equity Act, R.S.B.C. 1996 c. 253. Alvarez & Marsal Canada Inc. was appointed receiver on the application of Bank of China, which holds a judgment of $672,181,277.54 as at April 16, 2015 including pre-judgment interest, registered against the Udy Property on January 26, 2016 and renewed on May 29, 2018, April 22, 2020 and April 19, 2022. The matter is carried under court file no. S015937 and remains active.
The officer filed report no. Second Report. The Receiver has completed the sale of the Udy Property and liquidated all assets in its possession, with no further realizations anticipated; remaining work is limited to outstanding CRA tax matters, including a potential tax refund.
Source: Receiver’s Second Report
Notice of Application re: Distribution and Fee Approval was filed. Court file S015937.
Source: Notice of Application re: Distribution and Fee Approval
The court granted an approval and vesting order for the sale to Zhenghong Tian. Closing terms, as extracted: Vesting is effective upon delivery by the Receiver to the Purchaser of the Receiver's Certificate; vacant possession delivered at 10:00 a.m. on the Possession Date; Receiver may extend the Closing Date with Purchaser's consent without further order.
Notice of Application re Sale Approval and Vesting Order – September 1, 2023 was filed. Court file S0150937.
Source: Notice of Application re Sale Approval and Vesting Order – September 1, 2023
Receivership order put Alvarez & Marsal Canada Inc. in as receiver on Bank of China's application under section 39 of the Law and Equity Act.
Debtor
Kuang Wan Fang
Receiver
Alvarez & Marsal
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Bank of China · in 4 casesJudgment registered against the Udy Property on January 26, 2016; renewed May 29, 2018, April 22, 2020, and April 19, 2022 — Judgment amount including pre-judgment interest; Receiver appointed pursuant to this judgment creditor's application — debtor: Kuang Wan Fang, also known as Wendy Wan Fang Kuang · as of 16 Apr 2015 | $672M | Receiver’s First Report |
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 closed — The sale of the Udy Property closedReceiver’s Second Report · 5 Jun 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Zhenghong Tianthe property legally described as PID: 004-014-111 Lot 14 Block 3 Section 18 Block 4 North Range 6 West New Westminster District Plan 15790 (the "Lands") · real property · agreement 8 Aug 2023 | Subscribers | Closed26 Sep 2023 | Receiver’s Second Report |
Bank of China: a distribution.Receiver’s Second Report · 5 Jun 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Bank of China | — | interimconditional | per the receiver | Receiver’s Second Report · 5 Jun 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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See all plans2 engagements · 2 firms — latest: Alvarez & Marsal Canada Inc., 21 Oct 2022 – 31 Dec 2024, in feesReceiver’s Second Report · 5 Jun 2025
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Alvarez & Marsal Canada Inc.Receiver | 21 Oct 2022 – 31 Dec 2024 | 5 people | Receiver’s Second Report · 5 Jun 2025 | ||||||||||||||||||||||||||||||||
5 people — Alvarez & Marsal Canada Inc., 21 Oct 2022 – 31 Dec 2024 · 15 blurred figures
| |||||||||||||||||||||||||||||||||||
| Gowling WLG (Canada) LLPCounsel to the receiver | 5 Mar 2021 – 30 Jun 2024 | — | not stated | Receiver’s Second Report · 5 Jun 2025 | |||||||||||||||||||||||||||||||
19 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansCumulative receipts
$2.67M
As at 9 May 2025Receiver’s Second Report
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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See all plans| Date | Document | File |
|---|---|---|
| Distribution and Fee Approval Order – June 20, 2025 | PDF · Subscribers | |
| Affidavit #1 of Jonathan Ross | PDF · Subscribers | |
| Affidavit #1 of Vicki Chan | PDF · Subscribers | |
Notice of Application re: Distribution and Fee Approval
| PDF · Subscribers | |
Receiver’s Second Report
| PDF · Subscribers | |
Sale Approval and Vesting Order – September 8, 2023
| PDF · Subscribers | |
Notice of Application re Sale Approval and Vesting Order – September 1, 2023
| PDF · Subscribers | |
Receiver’s First Report
| PDF · Subscribers | |
Receivership Order – March 3, 2023
| PDF · Subscribers | |
| Application Response of Kuang Wan Fang – February 3, 2023 | PDF · Subscribers | |
| Affidavit #1 of Kuang Wan Fang – January 16, 2023 | PDF · Subscribers | |
| Affidavit #1 of Yingjun Wu – January 16, 2023 | PDF · Subscribers | |
| Affidavit #1 of Dannis Yang – January 11, 2023 | 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., “Kuang Wan Fang” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/kuang-wan-fang