Oak Bay Beach Hotel
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- 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
OverviewSummary updated
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.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Per the Appendix B - Newspaper Advertisements for Claims Process dated 1 March 2016.
Proceedings AIAsk this case — answers cite the filings
Case updates114 dated entries
111 earlier updates, back to 3 December 2014 — subscribers.
Parties
Debtor
Oak Bay Beach Hotel
Receiver
EY
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Walker | Supreme Court of British Columbia | 5 orders, Jan 2016 – Mar 2017 | 23 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 | 25 Jan 2016 | Application · 25 Jan 2016 |
| CreditorBondholders | Farris, Vaughan, Wills & Murphy 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 |
| CreditorParcel Identifier 028-993-349 Strata Lot 49, Sections 23 and 73, Victoria District, Strata Plan EPS1033 | Professional Corporation | 30 Mar 2016 | Application · 30 Mar 2016 |
| 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 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| 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 |
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.
210 more claims across lower-ranking classesSubscribe to view
Sale processAs stated in the filings
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 |
RecoveriesAs stated in the filings
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.
Fees and ratesAs stated in the filings
8 engagements · 2 firms — latest: Borden Ladner Gervais LLP, 1 Sep 2015 – 17 Feb 2016Fourth 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 | — | — | — | 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 |
| 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 |
| 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 |
| 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 |
| Borden Ladner Gervais LLPCounsel to the receiverperiod 1 of 6 | — | — | — | —3 people | Fourth Report of the Receiver · 11 Mar 2016 |
| Ernst & Young Inc.Receiverperiod 2 of 2 | 4 Jul – 11 Dec 2015 | — | — | —11 people | Fourth Report of the Receiver · 11 Mar 2016 |
| Ernst & Young Inc.Receiverperiod 1 of 2 | 3 Jan – 30 Jan 2015 | — | — | —10 people | First Report Appendices · 26 Mar 2015 |
151 stated figures across 8 engagements, each sourcedSubscribe to view
Documents
114 filings
| 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 20 September 2026, https://proceedings.ca/case/oak-bay-beach-hotel