Sports Villa Resort, Inc.

Sports Villa Resort, Inc. is subject to a court-appointed receivership before the Supreme Court of Newfoundland and Labrador, court file 2019 01G 1157, brought under subsection 243(1) of the Bankruptcy and Insolvency Act on the application of Business Development Bank of Canada. The record names both BDO Canada Limited and Grant Thornton Limited as receiver of the company. As of October 31, 2018, the company's Form 87 notice reported total assets of $8,900,391 against total liabilities of $8,087,432, made up of secured claims of $3,431,070 and unsecured claims of $4,656,361, as stated in the document. Business Development Bank of Canada holds the largest secured claim, $3,300,000, secured by a general security agreement and real property mortgages; Canada Revenue Agency holds a secured deemed-trust claim of $100,000 for source deductions.