British Columbia · Receivership (court-appointed)
Notice of Application (Receivership)
Application / notice of application · 4 September 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing8 verified
- applicantNATIONAL BANK OF CANADA
- commencement date4 September 2026
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noVLC-S-H-260884
- appointeePricewaterhouseCoopers Inc.
- appointee roleReceiver and Manager
- secured creditorsnote: Amount is the aggregate Indebtedness stated in the demand as at May 8, 2026 'with interest thereafter'; interest and costs accruing since are unquantified. $3,100,000 is also the stated principal of the Loan advanced under the Credit Agreement dated June 3, 2024 (amended Oct 6, 2025), payable on demand, with $225,000 withheld as an interest reserve. Interest was Prime + 2%, rising to Prime + 3% compounded monthly under the Forbearance Agreement dated for reference May 20, 2026. Forbearance fee of $31,000 stated as unpaid; legal fees added to indebtedness and secured. Forbearance terminated on or about June 15, 2026. Personal guarantee by director/principal (Guarantor) exists. · page: 5 · as of: 2026-05-08 · amount: 3100000 · debtor: 1410195 B.C. Ltd. · creditor: National Bank of Canada · currency: CAD · security: Mortgage and assignment of rents registered in Victoria Land Title Office July 2, 2024 (CB1417507, CB1417508) over the Lands (3 lots, View Royal, BC); Site-Specific Security Agreement dated June 27, 2024; Set-Off and Security Agreement; guarantee from Jeffrey Sengara limited to principal of $3,100,000
- unsecured creditors