British Columbia · Receivership (court-appointed)
Notice of Application
Application / notice of application · 24 February 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 filing4 verified
- secured creditorsnote: Loan originally $4,104,037.87 pursuant to Loan Agreement dated February 2, 2023; as at October 2, 2025 balance was approximately $3.92 million, excluding additional accrued interest, legal fees and costs. RBC is described as the Debtors' 'primary secured creditor'. Individuals Kiran Bala and Ashok K. Bansal are listed as 'Guarantor' on the service list; capacity/relation to specific debt not specified in text. · page: 2 · as of: 2025-10-02 · amount: 3920000 · debtor: 1051247 B.C. Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: First mortgage on the Lands (Golf Course lands); guarantee provided by Delta Golf Course (2015) Ltd.
- secured creditorsnote: Second mortgage granted August 2022 for $14 million (registered principal, not a confirmed outstanding balance); mortgage understood to be pursuant to a guarantee provided by the Debtors to 093 Ltd.; 093 Ltd. initiated foreclosure proceedings in July 2023; Debtors did not inform or seek RBC's consent before granting this mortgage; related-party/foreclosing creditor. · page: 2 · as of: 2022-08 · debtor: 1051247 B.C. Ltd. / Delta Golf Course (2015) Ltd. · creditor: 0938080 B.C. Ltd. · currency: CAD · security: Second mortgage on title (registered principal amount of $14 million)
- secured creditorsnote: Quasi-governmental claim — CRA judgments for unpaid GST and corporate income taxes, aggregate approximately $134,000, obtained October 2024 and registered on title February 2025 (tax/deemed-trust class claim). · page: 2 · as of: 2024-10 · amount: 134000 · debtor: 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Judgments registered on title to the Lands (registered February 2025)
- secured creditorsnote: 2025 property taxes unpaid; approximate arrears as stated in First Report/Notice of Application; specific taxing authority not named in text. · page: 2 · as of: currently in arrears · amount: 62000 · debtor: 1051247 B.C. Ltd. / Delta Golf Course (2015) Ltd. · creditor: Property taxes (municipal taxing authority) · currency: CAD · security: Statutory municipal property tax lien on the Lands