Living Beachside Development Limited Partnership
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 11-3017250
Living Beachside Development Limited Partnership has been in bankruptcy under the BIA since December 1, 2023, before the Supreme Court of British Columbia in Bankruptcy and Insolvency. All of the partnership's assets were realized by the Receiver, leaving no assets for the Trustee to realize and no excess sale proceeds available to unsecured creditors. Synvest Investment Management Inc., holder of a first mortgage against the Properties and owed approximately $7.1 million by the partnership and related companies, was paid out in full by 1351486 B.C. Ltd. as part of the purchase price under the sale. 1351486 B.C. Ltd., second mortgagee, was owed approximately $4.9 million on $3.5 million advanced under a March 14, 2022 loan agreement, and credit bid the balance of the purchase price. The partnership's records show unsecured claims of approximately $68,000 as at December 19, 2023. The proceeding remains active.
Court officer's report filed on the day proceedings commenced, recording the officer's action in respect of the company taken December 1, 2023.
Source: Trustee's Report to Creditors
Debtor
Living Beachside Development Limited Partnership
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Synvest Investment Management Inc. · in 3 casesFirst mortgage against the Properties — Stated as approximate amount owed; paid out in full by 1351486 B.C. Ltd. as part of purchase price under the sale — debtor: Living Beachside Development Limited Partnership and related Companies | $7.1M | Trustee's Report to Creditors |
| 4 | Secured | 1351486 B.C. Ltd. · in 3 casesSecond mortgage against the Properties — Stated as approximate amount owed; principal advanced was $3.5 million pursuant to loan agreement dated March 14, 2022; credit bid balance of purchase price under sale — debtor: Living Beachside Development Limited Partnership and related Companies | $4.9M | Trustee's Report to Creditors |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesDocument names no individual creditors; approximate figure — debtor: Living Beachside Development Limited Partnership · as of 19 Dec 2023 | $68K | Trustee's Report to Creditors |
Unsecured creditors: no recovery.Trustee's Report to Creditors · 19 Dec 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | $68Klisted | no recovery | per the trustee | Trustee's Report to Creditors · 19 Dec 2023 |
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 |
|---|---|---|
Trustee's Report to Creditors
| ||
Certificate of Appointment
| ||
| Creditors package - Notice of First Meeting of Creditors | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Living Beachside Development Limited Partnership” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/living-beachside-development-lp