No. 88 Taurus Ventures Ltd.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act
- File
- S-227652
- Industry
- Real estate · Rental & income property
No. 88 Taurus Ventures Ltd. remains in an active court-appointed receivership in the Supreme Court of British Columbia, file S-227652, commenced January 31, 2023. First National Financial GP Corporation applied under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act, and MNP Ltd. was appointed receiver. First National holds a mortgage and an assignment of rents, with a balance of $1,295,000 as at January 3, 2023 per Affidavit #1 of Gurkirpal Singh Cheema, exclusive of interest accrued since that date. Also registered against the company are judgments in favour of BFI Canada Inc. and Her Majesty The Queen in Right of Canada, certificates of pending litigation from Harinder Dhillon and Kumikker Rangi, and a builders lien and certificate of pending litigation from S S R Cedar Ltd.
The officer filed report no. Receiver's First Report to Court. The Receiver managed two residential rental properties (Dundas and Triumph), collecting rent and attending to maintenance, but following redemption of First National's mortgages on September 15, 2023, the Receiver relinquished control of the properties and is seeking its discharge.
The Supreme Court of British Columbia made a receivership order over No. 88 Taurus Ventures Ltd. under BIA s. 243 and provincial Judicature Act authority, commencing the proceeding in file S-227652.
Debtor
No. 88 Taurus Ventures Ltd.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Associate Judge Baker | Supreme Court of British Columbia | 1 order, Aug 2023 | 10 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantFirst National Financial GP Corporation MNP Ltd | Owen Bird Law Corporation | 3 Nov 2023 | Service list · 3 Nov 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | First National Financial GP Corporation · in 7 casesMortgage and assignment of rents — Table figures in $000's. Balance as at January 3, 2023 per Affidavit #1 of Gurkirpal Singh Cheema; does not include interest accrued since that date. — debtor: No. 88 Taurus Ventures Ltd. · as of 3 Jan 2023 | $1.29M | Form 87 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
5 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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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.
3 engagements · 2 firms — latest: Lawson Lundell LLP, 1 Aug – 30 Sep 2023First Report of Receiver to Court · 23 Oct 2023
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lawson Lundell LLPCounsel to the receiverperiod 1 of 2 | 1 Aug – 30 Sep 2023 | — | — | not stated | First Report of Receiver to Court · 23 Oct 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lawson Lundell LLPCounsel to the receiverperiod 1 of 2 | —Sought | — | not stated | Affidavit #1 of William Roberts · 26 Oct 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MNP Ltd.Receiver | 4 Jul – 15 Sep 2023Sought | 10 people | First Report of Receiver to Court · 23 Oct 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — MNP Ltd., 4 Jul – 15 Sep 2023 · 34 blurred figures
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38 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansCumulative receipts
$107K
As at 18 Oct 2023First Report of Receiver to Court
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Notice of Application
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Affidavit #1 of William Roberts
| PDF · Subscribers | |
Affidavit #1 of Doug Chivers
| PDF · Subscribers | |
First Report of Receiver to Court
| PDF · Subscribers | |
Form 87
| PDF · Subscribers | |
| Letter to Tenant - Receiver of 2155 Triumph Street | PDF · Subscribers | |
Receivership Order entered August 1 2023
| 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., “No. 88 Taurus Ventures Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/no-88-taurus-ventures-ltd