SCREO I Metrotown Inc., and SCREO I Metrotown L.P.
Follow- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act and Section 39 of the Law and Equity Act
- File
- S-244252
SCREO I Metrotown Inc. and SCREO I Metrotown L.P. have been in receivership since July 8, 2024, when the Supreme Court of British Columbia appointed Alvarez & Marsal Canada Inc. receiver and manager in file S-244252 on the petition of The United States Life Insurance Company In The City of New York and American Home Assurance Company, under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act. The petitioners' debt was repaid in full out of transaction proceeds that closed November 22, 2024. Timbercreek Mortgage Servicing Inc., through Computershare Trust Company of Canada, claims up to $17,000,000 under July 11, 2023 assignments of sale proceeds; that claim is disputed and the receiver has sought the court's directions on it.
The officer filed report no. Supplemental Report to the Second Report of the Receiver. The Debtors' two office towers have already been sold; the Receiver continues to hold remaining sale proceeds of approximately $11.4 million pending resolution of competing claims by Timbercreek and the Greater Vancouver Water District, with no formal unsecured claims process yet established.
Source: Supplemental Report to the Second Report of the Receiver
20 earlier updates, back to 8 July 2024 — subscribers.
Undated filings3 — no date appears on the document · show
3 filings carry no date on their face — subscribers.
Debtor
SCREO I Metrotown Inc., and SCREO I Metrotown L.P.
Receiver
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Brongers | Supreme Court of British Columbia | 2 orders, Jul 2024 – Jun 2025 | 7 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlvarez & Marsal | Dentons Canada LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| ApplicantUnited States Life Insurance Company In The City Of New York and American Home Assurance Company | Blake, Cassels & Graydon LLP · Nathanson Schachter & Thompson LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| DebtorSCREO I Metrotown Inc., and SCREO I Metrotown L.P. | McCarthy Tétrault LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| CreditorMetro Vancouver Water Services | Gehlen Dabbs Cash LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| CreditorTimbercreek Mortgage Servicing Inc | Borden Ladner Gervais LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| CreditorWestmount West Services Inc | Lawson Lundell LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Timbercreek Mortgage Servicing Inc. (via Computershare Trust Company of Canada, as agent, nominee and bare trustee) · in 7 casesas claimed in Second Report, March 5, 2025 — Assignment of proceeds from sale of the Real Property (Gill Assignment and SCREO 700 Assignment), dated July 11, 2023, securing obligations under Gill Loan (max facility $30.2 million) and SCREO 700 Loan (aggregate max facility $161.3 million); disputed claim subject to Receiver's request for directions — Claim of 'up to $17,000,000', subject to net proceeds (if any) from sale of Dixie Outlet Mall and other repayments made after December 1, 2022; claim is disputed and subject to court adjudication (Receiver seeking directions); not the Debtors' own | $17M | Second Report of the Receiver |
Sale closed — The Transaction closed on November 22, 2024 and the Receiver's Certificate was filed with this Honourable Court on November 25, 2024. As a result of the Transaction, the Petitioners' debt and the Receiver's borrowings were repaid in full.Second Report of the Receiver · 5 Mar 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| City of Burnabythe assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 22 Oct 2024 | Subscribers | Closed22 Nov 2024 | Second Report of the Receiver |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cumulative receipts
$11.8M
As at 12 Jun 2025Supplemental Report to the Second Report of the Receiver
| Date | Document | File |
|---|---|---|
| Notice of Application - Distribution to Timbercreek | PDF · Subscribers | |
Order Made After Application
| PDF · Subscribers | |
Supplemental Report to the Second Report of the Receiver
| PDF · Subscribers | |
| Affidavit #1 of Alice Jarvis | PDF · Subscribers | |
| Affidavit #1 of Lorena Morales | PDF · Subscribers | |
| Affidavit #1 of Michael Markowski | PDF · Subscribers | |
| Petition to the Court | PDF · Subscribers | |
| Affidavit #1 of Robert Kates | PDF · Subscribers | |
| Requisition - General (to re-set hearing to May 20, 2025) | PDF · Subscribers | |
| Requisition (re-set hearing date to May 16, 2025 at 10_00AM) | PDF · Subscribers | |
| Affidavit #1 of Scott Rowland | PDF · Subscribers | |
| Application Response | PDF · Subscribers | |
Notice of Application, returnable March 12, 2025
| PDF · Subscribers | |
| Affidavit #2 of Chelsea Denton | PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Order Approving Sale, Distribution and Activities (November 7, 2024)
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
| Affidavit #1 of Chelsea Denton | PDF · Subscribers | |
Receivership Order (July 8, 2024)
| PDF · Subscribers | |
| Notice of Hearing of Petition (June 26, 2024) | PDF · Subscribers | |
Petition to Court (June 21, 2024)
| PDF · Subscribers | |
| Application Record | PDF · Subscribers | |
| Notice of Application (Adding Party) | PDF · Subscribers | |
| Notice of Application (Sale Approval, Distribution and Approval of Activities) | 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., “SCREO I Metrotown Inc., and SCREO I Metrotown L.P.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/screo-i-metrotown-inc-and-screo-i-metrotown-l-p