Mahindra Jewellers Ltd. et al.
Follow- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S241456
Mahindra Jewellers Ltd. and related respondents have been in court-appointed receivership under s. 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority since March 4, 2025, and the proceeding remains active. The principal secured creditor is the Canadian Imperial Bank of Commerce, owed $19,634,929.50 as at February 14, 2024 across credit facilities under an April 28, 2022 credit agreement, repayable on demand and bearing interest at prime plus 0.500 per cent. CIBC holds mortgages registered June 21, 2022 ($22,000,000 principal) and September 1, 2022 ($2,000,000 principal), general security agreements over all present and future assets registered May 30, 2022, and unlimited cross-guarantees dated June 14, 2022 from each borrower. Surrey Gold Jewellers Ltd. also faces registered claims from the Bank of Nova Scotia, Gulf and Fraser Fishermen's Credit Union, Cameron Stephens Mortgage Capital Ltd., LFC Hickory24 Limited Partnership, the Canada Revenue Agency, the BC Minister of Finance and employees.
Notice of Application to approve the sale of the Clearbrook Property (returnable March 3, 2026) — Application / notice of application
The officer filed report no. Third Report. The Receiver reports it has completed the sale of substantially all of the Companies' inventory and is now seeking approval to sell the Clearbrook Property, the last major remaining asset.
Notice of Application to approve the sale of Unit 116 – 32083 Hillcrest Ave, Abbotsford (returnable June 11, 2025) — Application / notice of application
Form 87 – Notice and Statement of the Receiver – 1237647 B.C. Ltd. (March 10, 2025) — Notice to creditors
Form 87 – Notice and Statement of the Receiver – 1257271 B.C. Ltd. (March 10, 2025) — Notice to creditors
Form 87 – Notice and Statement of the Receiver – Heera Jewellers Inc. (March 10, 2025) — Court officer certificate
Form 87 – Notice and Statement of the Receiver – Mahindra Jewellers Ltd. (March 10, 2025) — Notice of receiver (s. 245 / Form 87)
Form 87 – Notice and Statement of the Receiver – P. Sona Jewellers Inc. (March 10, 2025) — Notice of receiver (s. 245 / Form 87)
Form 87 – Notice and Statement of the Receiver – RCJ Jewellers Inc. (March 10, 2025) — Notice of receiver (s. 245 / Form 87)
Form 87 – Notice and Statement of the Receiver – Surrey Gold Jewellers Ltd. (March 10, 2025) — Court officer report
The court appointed BDO Canada Limited as Receiver, on the application of Canadian Imperial Bank of Commerce. Court file S241456.
Notice of Application to appoint a Receiver (March 1, 2024) — Application / notice of application
Debtor
Mahindra Jewellers Ltd. et al.
Applicant
CIBC
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Fitzpatrick | Supreme Court of British Columbia | 1 order, Mar 2025 | 49 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Dentons Canada LLP | 18 Aug 2025 | Service list · 18 Aug 2025 |
| CreditorCanadian Imperial Bank | Gowling WLG (Canada) LLP | 18 Aug 2025 | Service list · 18 Aug 2025 |
| CreditorLFC Hickory24 Limited Partnership, by its general partner, Lanyard Investments Inc | Borden Ladner Gervais LLP | 18 Aug 2025 | Service list · 18 Aug 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Canadian Imperial Bank of Commerce (CIBC) · in 67 casesMortgages (June 2022 Mortgage - principal $22,000,000 registered June 21, 2022 under CB23946; second mortgage - principal $2,000,000 registered September 1, 2022 under CB198114) and General Security Agreements (Borrower GSAs) over all assets, registered May 30, 2022 under PPSA registration 762485N; also Cross-Guarantees dated June 14, 2022 in unlimited amount from each Borrower — Credit Facilities repayable on demand under Credit Agreement dated April 28, 2022 (as amended). Total indebtedness across various Credit Facilities as at Feb 14, 2024 stated as one figure covering all Borrowers/mortga · as of 14 Feb 2024 | $19.6M | Notice of Application to appoint a Receiver (March 1, 2024) |
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.
6 transactions · 3 closed · 2 proposed · 1 approved — Request the Court's approval of the sale of the Clearbrook Property to 1564740 B.C. Ltd. for $4,635,000Third Report of the Receiver (February 19, 2026) · 19 Feb 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Om Golds Ltdthe lands at 116 32083 Hillcrest Avenue, Abbotsford, British Columbia (the "Lands") · real property · agreement 17 Apr 2025 | $955KOCR shows conflicting figures ($955,0.. and 1,200,737.00) near price; purchase price stated as $955,0[00] | Closed26 Jun 2025 | Third Report of the Receiver (February 19, 2026) |
| 1492741 B.C. Ltd.the Purchased Asset | not stated | Closeddate not stated | Receiver's Certificate (June 26, 2025) |
| Bonhamsthe Auction Items · auction · agreement 24 Jul 2025 | not statedBonhams estimates the value in an auction for the Auction Items to be between $275,000 and $381,000 | Proposed | Second Report of the Receiver (August 15, 2025) |
| Guardian International Gold Corp.the sale of the Jewellery to the Purchaser pursuant to and in accordance with the terms of the Sale Agreement · asset sale · agreement 18 Jun 2025 | not stated | Closeddate not stated | Third Report of the Receiver (February 19, 2026) |
| auction buyers under Auction Agreements, unnamedthe sale of the Property to the Buyers pursuant to and in accordance with the terms of the Auction Agreements · auction · agreement 24 Jul 2025 | not stated | Approved29 Aug 2025 | Auction Order (August 29, 2025) |
| 1564740 B.C. Ltd.the sale of 2548 Clearbrook Road (the ' Clearbrook Property ') · real property | $4.63M | Proposed | Third Report of the Receiver (February 19, 2026) |
Unsecured creditors: no distribution. CIBC short by $2.7M.EstimatedThird Report of the Receiver (February 19, 2026) · 19 Feb 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | CIBC | $10M | short by $2.7M | Estimatedper the receiver | Third Report of the Receiver (February 19, 2026) · 19 Feb 2026 |
| Unsecured | any other creditors | — | no distributionconditional | Estimatedper the receiver | Third Report of the Receiver (February 19, 2026) · 19 Feb 2026 |
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 |
|---|---|---|
| Order for Sale of Clearbrook Property (March 10, 2026) | ||
| Notice of Application to approve the sale of the Clearbrook Property (returnable March 3, 2026) | ||
| Affidavit #1 of W. Yang (February 20, 2026) | ||
Third Report of the Receiver (February 19, 2026)
| ||
Auction Order (August 29, 2025)
| ||
Distribution Order (August 29, 2025)
| ||
Meltdown and Sale Order (August 29, 2025)
| ||
| Notice of Application, returnable August 29, 2025 | ||
Service List (August 18, 2025)
| ||
Second Report of the Receiver (August 15, 2025)
| ||
Receiver's Certificate (June 26, 2025)
| ||
| Notice of Application to approve the sale of Unit 116 – 32083 Hillcrest Ave, Abbotsford (returnable June 11, 2025) | ||
Order for Sale of Unit 116 (June 11, 2025)
| ||
| Affidavit #1 of N. Sidhu (May 28, 2025) | ||
| First Report of the Receiver (May 23, 2025) | ||
| Mahindra Jewellers Ltd. - Creditors Package | ||
| P. Sona Jewellers Inc.. Creditors Package | ||
| Surrey Gold Jewellers Ltd - Creditors Package | ||
| Form 87 – Notice and Statement of the Receiver – 1237647 B.C. Ltd. (March 10, 2025) | ||
| Form 87 – Notice and Statement of the Receiver – 1257271 B.C. Ltd. (March 10, 2025) | ||
Form 87 – Notice and Statement of the Receiver – Heera Jewellers Inc. (March 10, 2025)
| ||
| Form 87 – Notice and Statement of the Receiver – Mahindra Jewellers Ltd. (March 10, 2025) | ||
| Form 87 – Notice and Statement of the Receiver – P. Sona Jewellers Inc. (March 10, 2025) | ||
| Form 87 – Notice and Statement of the Receiver – RCJ Jewellers Inc. (March 10, 2025) | ||
Form 87 – Notice and Statement of the Receiver – Surrey Gold Jewellers Ltd. (March 10, 2025)
| ||
Receivership Order (March 4, 2025)
| ||
| Affidavit #2 of Svetlana Gorina dated February 26, 2025 | ||
| Affidavit #1 of Peter Powers dated March 1, 2024 | ||
Affidavit #1 of Svetlana Gorina dated March 1, 2024
| ||
Notice of Application to appoint a Receiver (March 1, 2024)
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Mahindra Jewellers Ltd. et al.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/mahindra-jewellers-ltd-et-al