Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings 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
- VLC-S-H-241188
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.
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
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. — Receivership filed, British Columbia.
Undated filings1 — no date appears on the document · show
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.
Debtor
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.
Applicant
Trez Capital
Receiver
Alvarez & Marsal
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorOwners: Strata Corporation VR | Dla Piper LLP | 30 Jul 2026 | Service list · 30 Jul 2026 |
| 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 | Peterson Investment Group Inc. ("Peterson") · in 2 casesMortgage, assignment of rents, and general security agreement charging the Property ("Peterson Security"), subordinate in priority to the Trez Security; original loan principal $25,000,000 — Court judgment amount plus per diem interest of $17,536.85 from March 20, 2025, plus legal costs; security opinion by Dentons confirms valid, binding, perfected security interest, subordinate to Trez per priority agreement dated February 4, 2022 — debtor: Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. · as of 14 Apr 2025 | $28.8M | First Report of the Receiver |
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.
| Date | Document | File |
|---|---|---|
| Second Report of the Receiver | ||
Notice of Application
| ||
| Notice of Application re Discharge Order | ||
| Order Made After Application | ||
Service List
| ||
| Affidavit #1 of A. Tillman | ||
| Affidavit #1 of J. Sandrelli | ||
First Report of the Receiver
| ||
Receivership Order
| ||
Notice of Application re Sealing Order
| ||
| Affidavit #1 of C. Skogen | ||
| Affidavit #1 of T. Saric | ||
Petition re Receivership
| ||
| Sun & Landmark Application Response re Receivership | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/landmark-shawn-oaks-development-ltd-and-shawn-oaks-holdings-ltd