Terra Nova Resort

Terra Nova Resort is in court-appointed receivership, with BDO Canada Limited acting as receiver over the assets of Twin Rivers Golf Inc. The proceeding was commenced on March 20, 2019 in the Supreme Court of Newfoundland and Labrador, General Division, under subsection 243(1) of the Bankruptcy and Insolvency Act on the application of the Business Development Bank of Canada, file 2019 01G 1157. BDC had already appointed BDO privately on December 12, 2018 under a mortgage on a land lease in Port Blanford, registered October 2, 2003, Roll 2583, Frame 1055, and claims $3,228,000. De Lage Landen Financial Services Canada Inc. and Royal Bank of Canada also hold security on the property. The only asset described is an interest in a land lease with Parks Canada; the 18-hole Twin Rivers golf course had ceased operating before the appointment, and the receiver's plan is a formal sale process for the lease together with the associated Terra Nova Resort business.