Newgen Harrison Development Inc.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-117007
- Industry
- Real estate · Residential development
Newgen Harrison Development Inc. remains in court-appointed receivership in the Supreme Court of British Columbia, file S-117007, where The Bowra Group Inc. was appointed Receiver and Manager on November 16, 2011 on the application of HSBC Bank Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act. HSBC holds a first mortgage on the property, reported at $11.5 million and estimated at $11 million as at the date of receivership, and an independent legal opinion confirms that mortgage valid and enforceable; East Gordon Developments Ltd. holds a second mortgage of $1.5 million. Two unsecured creditors have filed proofs of claim in the bankruptcy totalling $186,000, and the Statement of Affairs indicates a further 25 creditors that may file, totalling $6,089,000. A Restructuring Agreement contemplates assignment of HSBC's secured claim to a purchaser for $5.08 million on a successful Proposal, under which HSBC would not share in distributions and the estimated dividend is $58,000.
Supreme Court of British Columbia made the receivership order over Newgen Harrison Development Inc., commencing the proceeding under court file S-117007.
Source: Receivership Order
Debtor
Newgen Harrison Development Inc.
Receiver
The Bowra Group
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | HSBC Bank Canada · in 55 casesas of date of Receivership — First mortgage on property — Prose estimate elsewhere states 'estimated at $11 million at the date of Receivership' (page 4); table figure (page 5, in $000's) used as amount. Independent legal opinion confirms mortgage valid and enforceable. Not entitled to receive distributions under Proposal. Restructuring Agreement contemplates assignment of HSBC's secured claim to Purchaser for $5.08 million upon successful Proposal. — debtor: Newgen Harrison Development Inc. | $11.5M | Trustee’s Report on Proposal to Creditors |
| 4 | Secured | |||
| 8 | Unsecured |
2 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 plansThis 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.
Unsecured creditors: a distribution.Under the plan · sanctionedOrder approving proposal · 9 Mar 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Affected Creditor with Proven Claims greater than $2,000 electing to reduce claim to $2,000 | conditional | Under the plansanctionedper the proposal trustee | Order approving proposal · 9 Mar 2015 |
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.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Order amending Order granted (March 9, 2015) | PDF · Subscribers | |
Order approving proposal
| PDF · Subscribers | |
Creditor's Package
| PDF · Subscribers | |
Trustee’s Report on Proposal to Creditors
| PDF · Subscribers | |
Receivership Order
| 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., “Newgen Harrison Development Inc.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 5 November 2026, https://proceedings.ca/case/newgen-harrison-development-inc