Proceedings.

Maskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and the bare trustee Carvolth 86th Avenue Lands Ltd.

Follow
Closed
Proceeding
Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Court
Supreme Court of British Columbia
File
S-256472
Filings held20
Last activity25 Aug 2026
On the record256 days
Secured debt$11.1M
OverviewSummary updated

Maskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and bare trustee Carvolth 86th Avenue Lands Ltd. have been in court-appointed receivership in British Columbia since January 8, 2026, brought under section 243 of the Bankruptcy and Insolvency Act. National Bank of Canada is the largest secured creditor, holding a first-ranking charge over the Property at PID 002-331-471 by way of a mortgage and assignment of rents registered at the New Westminster Land Title Office on September 29, 2022, its registered principal raised from $10,400,000 to $11,000,000 in September 2023. The bank's July 15, 2025 demand letter put the debt at $11,104,159.83 as of July 14, 2025; as of August 19, 2025 the amount owed was $11,036,164.92, with fees and expenses accruing at $1,943.84 per day. Cedar Ridge Investments Ltd. holds a second-ranking mortgage and assignment of rents, postponed to the bank. The loan is also guaranteed by Maskeen Homes Ltd. and Maskeen Development Ltd. and by two personal guarantors.

Proceedings AIAsk this case — answers cite the filings
Ask in plain language. The answer comes only from this case’s filings, each one cited.
Enter to send · Shift+Enter for a new line
Case updates21 dated entries
#Order

Maskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and the bare trustee Carvolth 86th Avenue Lands Ltd. — Receivership filed, British Columbia.

Source: Receivership Order

AnalysisAll insights⁠

Outcome brief

Maskeen (Carvolth): one offer, and a redemption with no lender named

A receiver marketed a vacant Langley development site to a database of 1,362 developers and drew a single formal offer — $6,400,000 against a $7,000,000 asking price. The afternoon before the sale hearing the borrowers applied to redeem instead, telling the court the land was worth $20.3 million to $26 million, and naming neither a lender nor a sum. On August 25 Madam Justice Fitzpatrick approved the sale, directed roughly $5,858,000 to National Bank of Canada on a debt of more than $11 million, and discharged the receiver.

Parties

Debtor

Maskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and the bare trustee Carvolth 86th Avenue Lands Ltd.

Applicant

National Bank of Canada

Receiver

FTI

Bench and counselPer the orders and service lists on the record

Counsel of record

PartyCounselFirst seenSource
ReceiverFTIMcCarthy Tétrault LLP9 Jan 2026Service list · 9 Jan 2026
ApplicantNational Bank of CanadaBlake, Cassels & Graydon LLP9 Jan 2026Service list · 9 Jan 2026
DebtorMaskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and the bare trustee Carvolth 86th Avenue Lands Ltd.McQuarrie Hunter LLP9 Jan 2026Service list · 9 Jan 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 8 named without a figure
#Priority classCreditorAmountSource
4SecuredNational Bank of Canada · in 87 casesSame as above — Amount stated in Demand Letter dated July 15, 2025, as of July 14, 2025, plus professional and other costs, expenses, and fees not included. — debtor: Maskeen (Carvolth) Limited Partnership, Maskeen (Carvolth) GP Inc. · as of 14 Jul 2025$11.1MPetition to the Court
4SecuredNational Bank of Canada · in 87 casesFirst-ranking charge; mortgage with assignment of rents on Property in principal amount of $11,000,000 registered September 29, 2022; general security agreements (GSAs) including site-specific security agreements (SSAs); general assignment of rents and leases; direction and beneficial charge agreements — Largest secured creditor, first ranking charge. Amount stated as of August 19, 2025 (not including fees, expenses, and other continuing obligations, which continue to accrue at $1,943.84/day). A separate Demand Letter dated July 15, 2025 stated the amount owed as of July 14, 2025 was $11,104,1 · as of 19 Aug 2025$11MPetition to the Court
4SecuredCedar Ridge Investments Ltd.Second-ranking mortgage and assignment of rents over the Property — Second-ranking lender; subordinated to National Bank of Canada pursuant to priority and postponement agreement dated for reference August 31, 2023. Amount not stated. — debtor: Maskeen (Carvolth) Limited Partnership / Carvolth 86th Avenue Lands Ltd.—Petition to the Court
8UnsecuredTownship of Langley · in 2 casesdebtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026$93.9KList of Known Creditors
8UnsecuredMinistry of Finance · in 107 casesAmount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8UnsecuredFortis BC · in 29 casesAmount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8UnsecuredCanada Revenue Agency · in 926 casesAmount listed as 'Unknown'; deemed trust class per CRA status — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8UnsecuredBC Hydro · in 71 casesAmount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8Unsecured1376124 B.C. Ltd.Amount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8UnsecuredOffice of the Superintendent of Bankruptcy · in 2 casesAmount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors
8UnsecuredWorkSafe VancouverAmount listed as 'Unknown' — debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · as of 8 Jan 2026—List of Known Creditors

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

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.

RecoveriesAs stated in the filings

Unsecured creditors: no distribution. National Bank of Canada short.EstimatedNotice of Application - Respondents (re redemption et al) · 24 Aug 2026

ClassCreditorClaimsRecoveryBasisSource
SecuredNational Bank of Canada—shortfallEstimatedper the receiverNotice of Application - Respondents (re redemption et al) · 24 Aug 2026
Unsecured——no distributionconditionalEstimatedper the receiverNotice of Application - Respondents (re redemption et al) · 24 Aug 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.

Fees and ratesAs stated in the filings

4 engagements · 2 firms — latest: McCarthy Tétrault LLP, 28 Aug 2025 – 30 Jun 2026, $20,407.50 in feesAffidavit #1 of L. Williams · 18 Aug 2026

FirmPeriodHoursFeesRatesSource
FTI Consulting Canada Inc.Receiverperiod 3 of 3to 31 May 202617.7$16,101.00ex. tax$745 – $1,0802 peopleAffidavit #1 of T. Powell · 18 Aug 2026
2 people — FTI Consulting Canada Inc., to 31 May 2026
NameTitleHoursRateFees
Thomas PowellSenior Managing Director8.7$1,080$9,396.00
Longmai YanDirector9$745$6,705.00
FTI Consulting Canada Inc.Receiverperiod 2 of 3to 28 Feb 202630$22,967.50ex. tax$550 – $1,0803 peopleAffidavit #1 of T. Powell · 18 Aug 2026
3 people — FTI Consulting Canada Inc., to 28 Feb 2026
NameTitleHoursRateFees
Thomas PowellSenior Managing Director6.5$1,080$7,020.00
Longmai YanDirector15.5$745$11,547.50
Tessa ChiricostaSenior Consultant8$550$4,400.00
FTI Consulting Canada Inc.Receiverperiod 1 of 3to 31 Jan 202643.1$35,476.50ex. tax$550 – $1,0803 peopleAffidavit #1 of T. Powell · 18 Aug 2026
3 people — FTI Consulting Canada Inc., to 31 Jan 2026
NameTitleHoursRateFees
Thomas PowellSenior Managing Director14.3$1,080$15,444.00
Longmai YanDirector21.5$745$16,017.50
Tessa ChiricostaSenior Consultant7.3$550$4,015.00
McCarthy Tétrault LLPCounsel to the receiver28 Aug 2025 – 30 Jun 202627.8$20,407.50ex. tax$360 – $1,12513 peopleAffidavit #1 of L. Williams · 18 Aug 2026
13 people — McCarthy Tétrault LLP, 28 Aug 2025 – 30 Jun 2026
NameTitleHoursRateFees
Craig ShirreffPartner0.4$1,125$450.00
Lance WilliamsPartner4.4$9902026$4,356.00
Lance WilliamsPartner0.9$8602025$774.00
Patrick WilliamsPartner3.1$835$2,588.50
Ashley BowronAssociate0.5$7402026$370.00
Thomas FoxAssociate9.2$720$6,624.00
Tammy YardParalegal0.9$510$459.00
Sue DanieliszParalegal1.1$4552026$500.50
Liezl DreijerParalegal1$455$445.00
Sue DanieliszParalegal0.6$4252025$255.00
Jieru ChiArticling Student0.5$395$197.50
Isabel GonzalesParalegal0.2$380$76.00
Harleen GrewalParalegal0.2$360$72.00
Total:—27.8—$20,407.50

Top rate $1,125 · 69th percentile of counsel rates, 2026 · of 69

Documents
20 filings
DateDocumentFile
Approval and Vesting OrderPDF
Fee Approval, Distribution, and Discharge OrderPDF
Application Response - RespondentsPDF
Notice of Application - Respondents (re redemption et al)
  • Recovery outcome Entries: per estimated; per estimated; per unstated · Table missing:
PDF
Affidavit #1 of L. Williams
  • Fee schedule Engagements: Form: time_summary · Rows: Lance Williams; Lance Williams; Craig Shirreff; Patrick Williams; Ashley Bowron; Thomas Fox; Liezl Dreijer; Sue Danielisz; Sue Danielisz; Tammy Yard; Harleen Grewal; Isabel Gonzales; Jieru Chi; Fees: 20407.5 · Hours: 27.8 · Quote: Total: | 27.80 | | $20,407.50 · Row kind: subtotal · Rate kind: standard · Name as stated: Total: · Money: Tax: $2.46K · Label: taxes · Quote: invoiced taxes amounted to $2,458.13 · Fees: $20.4K · Quote: McCarthy's invoiced fees amounted to $20,407.50 · Total: $23.1K · Quote: for a total of $23,099.67 · includes tax · includes disbursements · Approximate: false · Disbursements: $234 · Quote: invoiced disbursements amounted to $234.04 · Period: End: 2026-06-30 · Kind: invoice · Quote: from August 28, 2025 to June 30, 2026 · Start: 2025-08-28 · Approval: State: unstated · Averages: — · Currency: · Invoices: Date: 2025-10-17 · Quote: 8604136 | October 17, 2025 | $1,626.81 · Total: 1626.81; Date: 2025-11-17 · Quote: 8605333 | November 17, 2025 | $3,059.29 · Total: 3059.29; Date: 2025-12-31 · Quote: 8608883 | December 31, 2025 | $95.20 · Total: 95.2; Date: 2026-02-17 · Quote: 8610243 | February 17, 2026 | $3,006.23 · Total: 3006.23; Date: 2026-03-26 · Quote: 8611949 | March 26, 2026 | $1,899.00 · Total: 1899; Date: 2026-04-15 · Quote: 8612867 | April 15, 2026 | $7,881.28 · Total: 7881.28; Date: 2026-05-29 · Quote: 8615473 | May 29, 2026 | $2,169.44 · Total: 2169.44; Date: 2026-06-30 · Quote: 8616705 | June 30, 2026 | $1,598.67 · Total: 1598.67; Date: 2026-07-30 · Quote: 8618013 | July 30, 2026 | $1,763.75 · Total: 1763.75 · Firm text: McCarthy Tetrault LLP · Firm quote: counsel for FTI Consulting Canada Inc., the court-appointed receiver and manager · Hours total: Quote: The total time comprised in the Invoices is 27.80 hours at an average hourly rate of $734.08 per hour · Value: 27.8 · Context quote: I am a partner at McCarthy Tetrault LLP ("McCarthy"), counsel for FTI Consulting Canada Inc., the court-appointed receiver and manager · Comparability quote: those hourly rates are consistent with those charged by other law firms for work of a similar nature in Vancouver, British Columbia.
PDF
Affidavit #1 of T. Powell
  • Fee schedule Engagements: Form: time_summary · Rows: Thomas Powell; Longmai Yan; Tessa Chiricosta · Money: Tax: $1.8K · Label: GST (5%) · Quote: GST (5%) | $1,795.08 · Fees: $35.5K · Quote: Total Professional Services | | | 43.10 | 535,476.50 · Total: $37.7K · Quote: Total Due | 537,696.62 · includes tax · includes disbursements · Approximate: false · Disbursements: $425 · Quote: Total Expenses | | | | S425.04 · Period: End: 2026-01-31 · Kind: invoice · Label: Current Invoice Period · Quote: Current Invoice Period: Charges posted through January 31, 2026 · Approval: State: unstated · Averages: · Currency: Code: CAD · Quote: Currency | CAD · Invoices: · Firm text: FTI Consulting Canada Inc. · Firm quote: FTI Consulting Canada Inc. · Hours total: Quote: Total Professional Services | | | 43.10 | 535,476.50 · Value: 43.1 · Context quote: I am a Senior Managing Director, Corporate Finance, at FTI Consulting Canada Inc. ("FTI"), the court-appointed receiver and manager (in such capacity, the "Receiver"); Form: time_summary · Rows: Thomas Powell; Longmai Yan; Tessa Chiricosta · Money: Tax: $1.15K · Label: GST (5%) · Quote: GST (5%) | $22,967.50 $1,148.38 · Fees: $23K · Quote: Total Professional Services | | | 30.00 | 522,967.50 · Total: $24.1K · Quote: Total Due | $24,115.88 · includes tax · Approximate: false · Period: End: 2026-02-28 · Kind: invoice · Label: Current Invoice Period · Quote: Current Invoice Period: Charges posted through February 28, 2026 · Approval: State: unstated · Averages: · Currency: Code: CAD · Quote: Currency | CAD · Invoices: · Firm text: FTI Consulting Canada Inc. · Firm quote: FTI Consulting Canada Inc. · Hours total: Quote: Total Professional Services | | | 30.00 | 522,967.50 · Value: 30 · Context quote: I am a Senior Managing Director, Corporate Finance, at FTI Consulting Canada Inc. ("FTI"), the court-appointed receiver and manager (in such capacity, the "Receiver"); Form: time_summary · Rows: Thomas Powell; Longmai Yan · Money: Tax: $805 · Label: GST (5%) · Quote: GST (5%) | S16.101.00 S805.05 · Fees: $16.1K · Quote: Total Professional Services | | | 17.70 | $16,101.00 · Total: $16.9K · Quote: Due | $16,906.05 · includes tax · Approximate: false · Period: End: 2026-05-31 · Kind: invoice · Label: Current Invoice Period · Quote: Current Invoice Period: Charges posted through May 31, 2026 · Approval: State: unstated · Averages: · Currency: Code: CAD · Quote: Currency | CAD · Invoices: · Firm text: FTI Consulting Canada Inc. · Firm quote: FTI Consulting Canada Inc. · Hours total: Quote: Total Professional Services | | | 17.70 | $16,101.00 · Value: 17.7 · Context quote: I am a Senior Managing Director, Corporate Finance, at FTI Consulting Canada Inc. ("FTI"), the court-appointed receiver and manager (in such capacity, the "Receiver")
PDF
First Report of the Receiver
  • Recovery outcome Entries: per estimated; per estimated; per estimated · Stated on: 2026-08-18 · Table missing:
PDF
Notice of Application - Receiver (re sale approval et al)
  • Counsel McCarthy Tétrault LLP
  • Recovery outcome Entries: per estimated; per estimated · Table missing:
PDF
List of Known Creditors
  • Secured creditors $2.53M · Page: 1 · As of: 2026-01-08 · Debtor: Carvolth 86th Avenue Lands Ltd., Maskeen (Carvolth) GP Inc., and Maskeen (Carvolth) Limited Partnership · Creditor: Cedar Ridge Investments Ltd.
  • Unsecured creditors per List of Known Creditors as at January 8, 2026 — Amount listed as 'Unknown'
PDF
Notice to CreditorsPDF
Service List
  • Counsel McQuarrie Hunter LLP
PDF
Receivership OrderPDF
Affidavit #3 of J. LugoPDF
Order (Adjournment)
  • Commencement date 7 October 2025
  • Court IN THE SUPREME COURT OF BRITISH COLUMBIA
  • Court file no S-256472
PDF
Affidavit #2 of A. FernandoPDF
Affidavit #1 of A. CheemaPDF
Response to PetitionPDF
Affidavit #1 of A. Fernando
  • Secured creditors Note: Priority subordinated/postponed to National Bank of Canada's mortgage (CB251146/CB251147 and its modification CB890840/CB890841) per Form C priority and postponement agreements dated for reference 2022-09-19 (registered as CB252742/CB252743) and 2023-08-31 (registered as CB903511/CB903512). No outstanding amount stated in these pages. · Page: 30 · Debtor: Carvolth 86th Ave Lands Ltd. · Creditor: Cedar Ridge Investments Ltd. · Currency: CAD · Security: Mortgage (registration no. CB251998) and assignment of rents (registration no. CB251999) registered 2022-09-29 against the Property (PID 002-331-471)
PDF
Affidavit #1 of J. LugoPDF
Petition to the Court
  • Applicant National Bank of Canada
  • Appointee FTI Consulting Canada Inc.
  • Appointee role receiver and manager
  • Court file no S-256472
  • + 1 more extracted fact
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Maskeen (Carvolth) Limited Partnership, its general partner Maskeen (Carvolth) GP Inc., and the bare trustee Carvolth 86th Avenue Lands Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/maskeen-carvolth-limited-partnership-its-general-partner-maskeen-carvolth-gp-inc

Recently updated

1281805 B.C. Ltd.

British Columbia · NOI

18 Sep 2026

Collection Tuff Avenue Inc.

Quebec · Bankruptcy

18 Sep 2026

6511 Sussex Heights Development Ltd. ("Highline Metrotown") and Minoru View Homes Ltd. ("Minoru Square") et al.

British Columbia · Receivership (court-appointed)

18 Sep 2026

177 Cross Argus Development Inc.

Ontario · NOI

18 Sep 2026

Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/maskeen-carvolth-limited-partnership-its-general-partner-maskeen-carvolth-gp-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.