Oak Bay Beach Hotel
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-149328
Oak Bay Beach Hotel is in court-appointed receivership. On 3 December 2014 the Supreme Court of British Columbia appointed Ernst & Young Inc. as receiver and manager of Bison Properties Ltd., Walker Hospitality Ltd. and Kevin Bruce Walker, on the application of Highland Park Financial Inc., John & Bonnie Buhler Foundation, Inc., Sterling Bridge Mortgage Corporation, REV Investments Inc. and Metro-Can Construction Ltd., under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act. The receiver's preliminary list records secured bondholder claims aggregating $44,246,662 under a Bond Indenture dated November 2, 2009, the largest being Sterling Bridge Mortgage Corporation, Keith Prosser, at $15,787,369.
A claims procedure has been established — see the order for deadlines.
Per the Appendix B - Newspaper Advertisements for Claims Process dated 1 March 2016.
The officer filed report no. Tenth Report. Supplemental report on documents received since the Ninth Report supporting Bison's transactions; the Receiver found the additional documents consistent with the transactions described in the Munro Affidavit, with some cheque copies (16) and vendor invoices (17) still not produced.
Source: Tenth Report of the Receiver
The officer filed report no. Ninth Report. The Receiver has been partially discharged and remains only for incidental duties and to review the Munro Affidavit; it tested the use of Bond proceeds against source documents and found no inconsistencies, though some requested documents were not provided.
Source: Ninth Report of the Receiver
The officer filed report no. Eighth Report. The sale of all Bison assets (the Oak Bay Beach Hotel) closed June 28, 2016 to the OBBH Purchasers, and Bison was assigned into bankruptcy; the Receiver has completed its duties and seeks approval of fees and its discharge.
Source: Eighth Report of the Receiver
The officer filed report no. Eighth Report. The Receiver completed the sale of the Oak Bay Beach Hotel assets to the OBBH Purchasers on June 28, 2016, assigning its rights and obligations to the purchasers under indemnity, and is applying to be discharged as Receiver.
Order Made After Application (Alternate partial purchase proceeds) — Application / notice of application
Bondholders Application Response to Construction Lenders Application — Application / notice of application
The court approved a sale and investment solicitation process. A bid deadline of 2016-01-15.
Source: Sales Process Order
The court appointed Ernst & Young Inc. as Receiver and Manager, on the application of Highland Park Financial Inc., John & Bonnie Buhler Foundation, Inc., Sterling Bridge Mortgage Corporation, REV Investments Inc. and Metro-Can Construction Ltd.. Court file S-149327.
The court appointed Ernst & Young Inc. as Receiver, on the application of Highland Park Financial Inc., John & Bonnie Buhler Foundation, Inc., Sterling Bridge Mortgage Corporation, REV Investments Inc. and Metro-Can Construction Ltd.. Court file S-149329.
On 3 December 2014 the Supreme Court of British Columbia made the receivership order, appointing Ernst & Young Inc. as receiver and manager of the debtors.
2014-12-02 - Unfiled Notice of Hearing of the Receivership Petition of ... (1) — Notice of hearing
Debtor
Oak Bay Beach Hotel
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Walker | Supreme Court of British Columbia | 5 orders, Jan 2016 – Mar 2017 | 31 cases on record |
| Justice Brown | Supreme Court of British Columbia | 5 orders, Dec 2014 – Oct 2015 | 2 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverEY | Borden Ladner Gervais LLP | 13 Mar 2015 | Application · 13 Mar 2015 |
| Creditorapplication | Farris, Vaughan, Wills & Murphy LLP (now Farris LLP) | 25 Jan 2016 | Application · 25 Jan 2016 |
| CreditorBondholders | Farris, Vaughan, Wills & Murphy LLP (now Farris LLP) | 13 Oct 2015 | Service list · 13 Oct 2015 |
| CreditorHighland Park Financial and John & Bonnie Buhler Foundation | Taylor McCaffrey LLP | 13 Oct 2015 | Service list · 13 Oct 2015 |
| CreditorSterling Bridge Mortgage Corp., REV | Dentons Canada LLP | 13 Jan 2016 | Service list · 13 Jan 2016 |
| CreditorSterling Bridge Mortgage Corp., REV Investments Inc | Dentons Canada LLP | 13 Oct 2015 | Service list · 13 Oct 2015 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Bondholders pursuant to Bond Indenture dated November 2, 2009 (aggregate)Bond Indenture dated November 2, 2009 — Aggregate total of individually listed bondholders (approx. 60 named holders); individual amounts listed on pages 1-2, not summed here per reporting rules; largest single holder Sterling Bridge Mortgage Corporation, Prosser, Keith at $15,787,369 — debtor: Bison Properties Ltd., Walker Hospitality Ltd. and Kevin Bruce Walker · as of 3 Dec 2014 | $44.2M | List of Creditors as at |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
210 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.
2 transactions · 1 proposed · 1 approved — The April 29 Orders approved the Transaction; closing expected on or about June 6, 2016Seventh Report of the Receiver · 18 May 2016
| Purchaser | Price | Status | Source |
|---|---|---|---|
| referred to only as the 'OBBH Purchaser'the OBBH · asset sale | Subscribers | Proposed | Sixth Report of the Receiver |
| OB Hotels Ltd. and NOAH Holdings Ltd.the proposed sale of the assets of the OBBH · asset sale · nominee/assignee: nominee companies formed by and related to Rev Investments Inc. ("Rev") | Subscribers | Approved | Seventh Report of the Receiver |
Unsecured creditors: no recovery. Rev short.Seventh Report of the Receiver · 18 May 2016
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Rev | — | shortfall | per the receiver | Third Report of the Receiver · 1 Mar 2016 |
| Unsecured | Bison's other affected creditors | — | no recovery | per the receiver | Seventh Report of the Receiver · 18 May 2016 |
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.
8 engagements · 2 firms — latest: Borden Ladner Gervais LLP, 1 Sep 2015 – 17 Feb 2016, in feesFourth Report of the Receiver · 11 Mar 2016
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Borden Ladner Gervais LLPCounsel to the receiverperiod 6 of 6 | 1 Sep 2015 – 17 Feb 2016 | not stated | Fourth Report of the Receiver · 11 Mar 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borden Ladner Gervais LLPCounsel to the receiverperiod 5 of 6 | 1 Dec – 31 Dec 2015 | — | 4 people | Fourth Report of the Receiver · 11 Mar 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 people — Borden Ladner Gervais LLP, 1 Dec – 31 Dec 2015 · 12 blurred figures
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| Borden Ladner Gervais LLPCounsel to the receiverperiod 4 of 6 | 2 Nov – 30 Nov 2015 | — | 2 people | Fourth Report of the Receiver · 11 Mar 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 people — Borden Ladner Gervais LLP, 2 Nov – 30 Nov 2015 · 6 blurred figures
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| Borden Ladner Gervais LLPCounsel to the receiverperiod 3 of 6 | 1 Oct – 31 Oct 2015 | — | 2 people | Fourth Report of the Receiver · 11 Mar 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 people — Borden Ladner Gervais LLP, 1 Oct – 31 Oct 2015 · 6 blurred figures
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| Borden Ladner Gervais LLPCounsel to the receiverperiod 2 of 6 | 1 Sep – 30 Sep 2015 | — | 2 people | Fourth Report of the Receiver · 11 Mar 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 people — Borden Ladner Gervais LLP, 1 Sep – 30 Sep 2015 · 6 blurred figures
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| Borden Ladner Gervais LLPCounsel to the receiverperiod 1 of 6 | — | — | 3 people | Fourth Report of the Receiver · 11 Mar 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 people — Borden Ladner Gervais LLP · 9 blurred figures
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| Ernst & Young Inc.Receiverperiod 2 of 2 | 4 Jul – 11 Dec 2015 | 11 people | Fourth Report of the Receiver · 11 Mar 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 people — Ernst & Young Inc., 4 Jul – 11 Dec 2015 · 33 blurred figures
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| Ernst & Young Inc.Receiverperiod 1 of 2 | 3 Jan – 30 Jan 2015 | 10 people | First Report Appendices · 26 Mar 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 people — Ernst & Young Inc., 3 Jan – 30 Jan 2015 · 30 blurred figures
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120 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 plansProfessional fees
$605K
As at 12 Dec 2015Eighth Report of the Receiver
| Date | Document | File |
|---|---|---|
Eleventh Report of the Receiver
| PDF · Subscribers | |
Tenth Report of the Receiver
| PDF · Subscribers | |
Ninth Report Appendices
| PDF · Subscribers | |
Ninth Report of the Receiver
| PDF · Subscribers | |
Order Made After Application (Receiver Discharge)
| PDF · Subscribers | |
Sealing Order
| PDF · Subscribers | |
Eighth Report of the Receiver_Report Appendices
| PDF · Subscribers | |
Eighth Report of the Receiver
| PDF · Subscribers | |
Order Made After Application (Alternate partial purchase proceeds)
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
| Creditors Package | PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
| Proxy Form | PDF · Subscribers | |
Bankruptcy Order
| PDF · Subscribers | |
Seventh Report of the Receiver
| PDF · Subscribers | |
| Approval Sale and Vesting of Title Order | PDF · Subscribers | |
Sixth Report of the Receiver
| PDF · Subscribers | |
| Further Amended Receiver's Notice of Application | PDF · Subscribers | |
| Affidavit #1 of Graham Thom, sworn | PDF · Subscribers | |
| Affidavit #1 of Jason Ratzlaff, sworn | PDF · Subscribers | |
| Amended Receiver's Notice of Application | PDF · Subscribers | |
| Notice of Application (REV re Sealing Order) | PDF · Subscribers | |
Schedule A to the Amended Notice of Application
| PDF · Subscribers | |
Schedule B to the Amended Notice of Application
| PDF · Subscribers | |
| Fifth Report of the Receiver | PDF · Subscribers | |
Fourth Report of the Receiver
| PDF · Subscribers | |
| Notice of Application (Fees) | PDF · Subscribers | |
| Notice of Application (Order Sealing Affidavit) | PDF · Subscribers | |
| Receiver Notice of Application | PDF · Subscribers | |
| Appendix B - Newspaper Advertisements for Claims Process | PDF · Subscribers | |
| Appendix C - List of Unsecured Creditors & Claims | PDF · Subscribers | |
Appendix D - Newspaper Advertisements for SISP
| PDF · Subscribers | |
| Appendix E - Qualified Bidder Correspondence | PDF · Subscribers | |
| Appendix F - REV Credit Bid | PDF · Subscribers | |
Appendix G - First Amendment to REV Credit Bid
| PDF · Subscribers | |
| Appendix H - PR Occupancy Agreements | PDF · Subscribers | |
| Appendix I - Unsigned PR Occupancy Agreement of Mr. & Mrs. Asser | PDF · Subscribers | |
| Appendix J - VHS Occupancy Agreements | PDF · Subscribers | |
| Appendix K - Partially Executed VHS Occupancy Agreements | PDF · Subscribers | |
| Appendix L - Unsigned Partially Executed VHS Occupancy Agreements | PDF · Subscribers | |
| Appendix M - Unsigned Partially Complete VHS Occupancy Agreements | PDF · Subscribers | |
| Appendix N - January 2015 Letter of the Receiver to Bondholders | PDF · Subscribers | |
| Appendix O - Statement of Receipts and Disbursements | PDF · Subscribers | |
Third Report of the Receiver
| PDF · Subscribers | |
| Agreement of Purchase and Sale | PDF · Subscribers | |
Bondholders Application Response to Construction Lenders Application
| PDF · Subscribers | |
| Notice of Application (Construction Lenders) | PDF · Subscribers | |
| Notice of Claim | PDF · Subscribers | |
Order made after application (Case Management Order)
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Claims Package sent to Creditors on | PDF · Subscribers | |
Form of Confidentiality Agreement
| PDF · Subscribers | |
| Investment opportunity_Oak Bay Beach Hotel | PDF · Subscribers | |
| Claim Instructions Letter | PDF · Subscribers | |
Claims Process Order
| PDF · Subscribers | |
| DRAFT Sales Process Order | PDF · Subscribers | |
Order approving fees and activities
| PDF · Subscribers | |
Sales Process Order
| PDF · Subscribers | |
| Affidavit of M. Siviero | PDF · Subscribers | |
| Notice of Application (Consolidation) | PDF · Subscribers | |
Notice of Application (Sales Process and Claims Process)
| PDF · Subscribers | |
| Second Report Appendices | PDF · Subscribers | |
Service list as of
| PDF · Subscribers | |
| Second Report of the Receiver | PDF · Subscribers | |
| Receiver Certificate 1 | PDF · Subscribers | |
| Receiver Certificate 2 | PDF · Subscribers | |
Order Made After Application, filed
| PDF · Subscribers | |
| Construction Lenders' Response filed | PDF · Subscribers | |
First Report Appendices
| PDF · Subscribers | |
| First Report of the Receiver | PDF · Subscribers | |
| Receiver's Response filed | PDF · Subscribers | |
| Kevin Bruce Walker's Response filed | PDF · Subscribers | |
Notice of Application filed
| PDF · Subscribers | |
| Affidavit 1 of D Belford filed | PDF · Subscribers | |
| Notice and Statement of Receiver | PDF · Subscribers | |
| Appendix A | PDF · Subscribers | |
| Frequently Asked Questions | PDF · Subscribers | |
Consent Receivership Order Bison Properties LTD
| PDF · Subscribers | |
Consent Receivership Order Kevin Bruce Walker
| PDF · Subscribers | |
Consent Receivership Order Walker Hospitality LTD
| PDF · Subscribers | |
List of Creditors as at
| PDF · Subscribers | |
| 1. Affidavit 1 of Keith Prosser - Bison Receivership (1 of 9) | PDF · Subscribers | |
| 1. Affidavit 1 of Keith Prosser - Kevin Walker Receivership (1 of 10) | PDF · Subscribers | |
| 1. Affidavit 1 of Keith Prosser - Walker Hospitality Receivership (1 of 9) | PDF · Subscribers | |
| 10. Exhibit HH-MM (10 of 10) | PDF · Subscribers | |
| 2. Exhibit A-F (2 of 9) | PDF · Subscribers | |
| 2. Exhibit A-G (2 of 10) | PDF · Subscribers | |
| 2. Exhibit A-G (2 of 9) | PDF · Subscribers | |
| 2014-12-02 - Unfiled Notice of Hearing of the Receivership Petition of | PDF · Subscribers | |
| 2014-12-02 - Unfiled Notice of Hearing of the Receivership Petition of ... (1) | PDF · Subscribers | |
| 2014-12-02 - Unfiled Notice of Hearing of the Receivership Petition of B | PDF · Subscribers | |
| 2014-12-02 - Unfiled Petition (Bison Properties Ltd ) | PDF · Subscribers | |
| 2014-12-02 - Unfiled Petition (Kevin Bruce Walker) | PDF · Subscribers | |
| 2014-12-02 - Unfiled Petition (WHL) | PDF · Subscribers | |
| 3. Exhibit G-J (3 of 9) | PDF · Subscribers | |
| 3. Exhibit H-J (3 of 10) | PDF · Subscribers | |
| 3. Exhibit H-J (3 of 9) | PDF · Subscribers | |
| 4. Exhibit K (4 of 10) | PDF · Subscribers | |
| 4. Exhibit K (4 of 9) | PDF · Subscribers | |
| 5. Exhibit L-O (5 of 9) | PDF · Subscribers | |
| 5. Exhibit L-P (5 of 10) | PDF · Subscribers | |
| 5. Exhibit L-P (5 of 9) | PDF · Subscribers | |
6. Exhibit P-Q (6 of 9)
| PDF · Subscribers | |
| 6. Exhibit Q (6 of 10) | PDF · Subscribers | |
| 6. Exhibit Q (6 of 9) | PDF · Subscribers | |
| 7. Exhibit R-AA (7 of 9) | PDF · Subscribers | |
| 7. Exhibit R-BB (7 of 9) | PDF · Subscribers | |
| 7. Exhibit R-U (7 of 10) | PDF · Subscribers | |
| 8. Exhibit BB-HH (8 of 9) | PDF · Subscribers | |
| 8. Exhibit CC-GG (8 of 9) | PDF · Subscribers | |
| 8. Exhibit V-BB (8 of 10) | PDF · Subscribers | |
| 9. Exhibit CC-GG (9 of 10) | PDF · Subscribers | |
| 9. Exhibit HH-MM (9 of 9) | PDF · Subscribers | |
| 9. Exhibit II-MM (9 of 9) | 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., “Oak Bay Beach Hotel” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/oak-bay-beach-hotel