British Columbia · Receivership (court-appointed)
Third Report of the Receiver (February 19, 2026)
Court officer report · 19 February 2026
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What we verified from this filing9 verified
- closing confirmedscope: the Hillcrest Property · outcome: completed · effective: 2025-06-26 · date basis: stated · approval order date: 2025-06-11; scope: the sale of the Companies' inventory · outcome: completed · purchaser: Guardian International Gold Corp · date basis: unstated · approval order date: 2025-08-29
- operational summaryThe Receiver reports it has completed the sale of substantially all of the Companies' inventory and is now seeking approval to sell the Clearbrook Property, the last major remaining asset.
- process resultsbids: 3 · note: 44 inquiries, 12 tours, and three offers on the Clearbrook Property per Colliers marketing report · as of: 2026-01-30
- purchaser1564740 B.C. Ltd.
- recovery outcomeentries: basis: estimated · quote: The Receiver estimates that the first secured creditor will suffer a shortfall of between $2.3 million and $2.7 million on their loan of approximately $10 million. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · amount low: 2300000 · amount high: 2700000 · class label: first secured creditor (CIBC) · claims amount: 10000000 · creditor name: CIBC · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated · shortfall amount: 2700000; basis: estimated · quote: As a result of the shortfall to the first secured creditor, there is not expected to be any recovery to any other creditors. · pct of: unstated · outcome: nil · stated by: receiver · class label: any other creditors · interim final: unstated · conditional on: shortfall to the first secured creditor · claims qualifier: unstated · stated on: 2026-02-19 · table missing:
- report date19 February 2026
- report noThird Report
- sale advisorColliers; Bonhams Canada
- sale outcometext: Request the Court's approval of the sale of the Clearbrook Property to 1564740 B.C. Ltd. for $4,635,000 · scope: parcel · status: pending_approval