#Report
Reported an executed purchase and sale agreement with a Trez affiliate after the BBG transaction terminated, that sale subject to court approval, and $1,223,752 held in trust as at October 21, 2026.
Source: Third Report of the Receiver
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.
FollowActive
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- VLC-S-H-241188
- Industry
- Real estate · Residential development
OverviewSummary updated
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. were placed in receivership on February 13, 2025 by the Supreme Court of British Columbia under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act, with Alvarez & Marsal Canada Inc. appointed receiver in court file H241188. Two secured lenders hold judgment claims charging the property. Trez Capital Limited Partnership and TCC Mortgage Holdings Inc. are owed $74,374,751.44 as at March 13, 2025 on an original loan principal of $67,661,000 and rank in first priority. Peterson Investment Group Inc. is owed $28,781,874.09 as at April 14, 2025 on an original principal of $25,000,000, subordinated to Trez under a priority agreement dated February 4, 2022.
Proceedings AIOpen Proceedings AI
Case updates15 dated entries · 2 undated
#Order
Put both companies and their property under Alvarez & Marsal Canada Inc. as court-appointed receiver, opening Supreme Court of British Columbia file H241188.
Source: Receivership Order
#Order
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. — Receivership filed, British Columbia.
#Filing
Opened the proceeding in the Supreme Court of British Columbia, seeking a receiver over both companies under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act.
Source: Petition re Receivership
Undated filings2 — no date appears on the document · show
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AnalysisAll insights
Case update
Shawn Oaks: BBG pulls out, and a Trez affiliate credit-bids $57.5 million
BBG Management told the receiver on September 8 that it intended to terminate its $61.5 million deal. Alvarez & Marsal proposes a November 16 hearing to approve a Trez Capital affiliate's $57.5 million credit bid, now an asset sale, and intends to seek a declaration that BBG's $3.5 million deposit, which BBG wants returned, is forfeited.
Case update
Shawn Oaks: $61.5 million on Oak Street, and nothing past the first mortgage
After fifteen months without an offer and an adjourned $62.5 million credit bid from a Trez Capital affiliate, Alvarez & Marsal's Second Report asks the court to approve BBG Management Inc.'s $61.5 million reverse vesting deal for 72 rented town homes on Vancouver's Oak Street and to pay all of it to Trez, leaving no funds for Peterson Investment Group's $28,781,874.09 second-mortgage judgment.
Parties
Debtor
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.
Applicant
Trez Capital
Receiver
Alvarez & Marsal
Bench and counselPer the orders and service lists on the record
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorOwners: Strata Corporation VR | DLA Piper (Canada) LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Trez Capital Limited Partnership and TCC Mortgage Holdings Inc. ("Trez")Mortgage, assignment of rents, beneficial mortgage, and general security agreement charging the Property in first priority ("Trez Security"); original loan principal $67,661,000 — Court judgment amount plus per diem interest of $30,400.50 from March 14, 2025, subject to monthly compounding; security opinion by Dentons confirms valid, binding, perfected security interest, ranks ahead of Peterson Security per priority agreement dated February 4, 2022 — debtor: Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. · as of 13 Mar 2025 | $74.4M | First Report of the Receiver |
| Secured |
1 more claim in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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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.
Estate financialsReported figures — never derived
Cash on hand
$1.22M
As at 21 Oct 2026Third Report of the Receiver
Documents
16 filings
| Date | Document | File |
|---|---|---|
Third Report of the Receiver
| PDF · Subscribers | |
| Second Report of the Receiver | PDF · Subscribers | |
Notice of Application
| PDF · Subscribers | |
Notice of Application re Discharge Order
| PDF · Subscribers | |
| Order Made After Application | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Affidavit #1 of A. Tillman | PDF · Subscribers | |
| Affidavit #1 of J. Sandrelli | PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Notice of Application re Sealing Order
| PDF · Subscribers | |
| Affidavit #1 of C. Skogen | PDF · Subscribers | |
| Affidavit #1 of T. Saric | PDF · Subscribers | |
Petition re Receivership
| PDF · Subscribers | |
| Notice of Application re AVO | PDF · Subscribers | |
| Sun & Landmark Application Response re Receivership | 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., “Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/landmark-shawn-oaks-development-ltd-and-shawn-oaks-holdings-ltd