#Order
Granted a further order on August 20, 2026, with the stay of proceedings extended to December 4, 2026.
Mortise Nova strata project
FollowActive
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985 c. C-36, as amended
- File
- S-263823
- Industry
- Real estate
OverviewSummary updated
Mortise Nova strata project is the subject of proceedings in the Supreme Court of British Columbia under the Companies' Creditors Arrangement Act, court file S-263823, opened by an order dated May 25, 2026 sought by National Bank of Canada, under which Alvarez & Marsal Canada Inc. was appointed over 670805 B.C. Ltd. and 0859116 B.C. Ltd. On the combined books and records as at May 25, 2026 the two companies carried estimated assets of $30,046,000, the real property taken at its approximate 2026 assessed value, against liabilities of $62,074,542.60, of which $60,375,521.75 is secured. National Bank of Canada holds $48,482,696.24 of that, the Bancorp funds with Bancorp Financial Services Inc. and Mandate Management Corporation $8,980,060.51, and Westmount West Services Inc. $2,912,765.00. A further order followed on August 20, 2026.
Proceedings AIOpen Proceedings AI
Case updates17 dated entries
#Order
The court appointed Alvarez & Marsal Canada Inc., on the application of National Bank of Canada. Court file S-263823.
Source: Amended and Restated Initial CCAA and Receivership Order of Justice Fitzpatrick
#Report
The officer filed report no. First Report. The Monitor and Receiver took possession and control of the Property, secured the site, and are conducting due diligence and planning to select a construction manager to recommence construction of the Mortise Nova residential project.
Source: First Report of the Monitor
#Filing
Notice of Application re Comeback Hearing (June 1, 2026) — Application / notice of application
#Order
The order of May 25, 2026 placed 670805 B.C. Ltd. and 0859116 B.C. Ltd. and their property under Alvarez & Marsal Canada Inc. on National Bank of Canada's application.
AnalysisAll insights
Filing brief
Mortise Nova: National Bank's CCAA to finish a stalled Surrey building
National Bank of Canada, owed $48,482,696.24, put the stalled 93-unit second phase of Surrey's Mortise Nova strata project into a combined CCAA and receivership on May 25, with Alvarez & Marsal as monitor and receiver. On August 20, with Intergulf engaged as construction manager, the court extended the stay to December 4 and raised interim borrowing authority to $9 million.
Parties
Debtor
Mortise Nova strata project
Applicant
National Bank of Canada
Monitor
Alvarez & Marsal
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Fitzpatrick | Supreme Court of British Columbia | 1 order, Jun 2026 | 60 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorAlvarez & Marsal | Fasken Martineau DuMoulin LLP | 23 Jul 2026 | Service list · 23 Jul 2026 |
| ApplicantNational Bank of Canada | McCarthy Tétrault LLP | 23 Jul 2026 | Service list · 23 Jul 2026 |
| CreditorA-1 Building Supplies Ltd | Sugden, McFee & Roos LLP | 23 Jul 2026 | Service list · 23 Jul 2026 |
| CreditorBorrowers | McQuarrie Legal Services | 23 Jul 2026 | Service list · 23 Jul 2026 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | National Bank of Canada · in 101 casesPer books and records — debtor: 670805 B.C. Ltd. and 0859116 B.C. Ltd. · as of 25 May 2026 | $48.5M | Notice and Statement of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
47 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansEstate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing
As at ·
Cash on hand
$0
As at 25 May 2026First Report of the Monitor
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plansDocuments
16 filings
| Date | Document | File |
|---|---|---|
Stay Extension & Interim Financing Order
| PDF · Subscribers | |
Notice of Application re Stay Extension
| PDF · Subscribers | |
Second Report of the Monitor and Receiver
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Amended and Restated Initial CCAA and Receivership Order of Justice Fitzpatrick
| PDF · Subscribers | |
| Affidavit #1 of B. Johal | PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
| Affidavit #2 of A. Vos | PDF · Subscribers | |
| Notice of Application re Comeback Hearing (June 1, 2026) | PDF · Subscribers | |
Notice and Statement of the Receiver
| PDF · Subscribers | |
Initial CCAA and Receivership Order
| PDF · Subscribers | |
| Notice of Hearing (set for May 25, 2026) | PDF · Subscribers | |
| Pre-filing Report of the Proposed Monitor and Proposed Receiver | PDF · Subscribers | |
| Affidavit #1 of A. Vos | PDF · Subscribers | |
| Affidavit #1 of S. Danielisz (with exhibits) | PDF · Subscribers | |
Petition to the Court - National Bank of Canada
| 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., “Mortise Nova strata project” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/mortise-nova-strata-project