British Columbia · Receivership (court-appointed)
Filed First Report of the Receiver and Manager dated March 13, 2020
Court officer report · 13 March 2020
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 filing12 verified
- secured creditorsnote: Applicant for the receivership and described as the first mortgagee. The outstanding mortgage balance is not stated. Post-receivership advances of $100,000 have been made under the mortgage (Phase I work); further advances of about $3,325,332 to complete construction are proposed, subject to a court order establishing priority. · page: 3 · debtor: 1150165 B.C. Ltd., Fatemeh Mirzaei and Gholamreza Ghassemi Gangan · creditor: Vancouver City Savings Credit Union (Vancity) · currency: CAD · security: First mortgage on the Property at 1437 Chartwell Drive, West Vancouver (PID 002-885-018)
- unsecured creditorsnote: 2019 property taxes $33,170.47, plus penalties $3,317.04, plus municipal utility charges $2,390.70. Statutory municipal tax claim. · page: 7 · as of: 2019-12-20 · basis: Property Tax Certificate dated December 20, 2019 · amount: 38878.21 · debtor: 1150165 B.C. Ltd. · creditor: District of West Vancouver · currency: CAD
- secured creditorsnote: Per the Notice of Receiver based on Company information. A later Profix list dated 2020-01-08 shows $21,741.72 for Dulay; the Receiver says it uses the higher figure where the lists differ. Dulay is also the roofer whose incomplete work left the roof leaking. · page: 10 · as of: 2019-07-15 · amount: 28665 · debtor: 1150165 B.C. Ltd. · creditor: Dulay Roofing Ltd. · currency: CAD · security: Builders' lien (listed as secured creditor on Notice of Receiver)
- secured creditorsnote: Per the Notice of Receiver based on Company information. A later Profix list dated 2020-01-08 shows $99,750.00 for Arona; the Receiver says it uses the higher figure where the lists differ. · page: 10 · as of: 2019-09-27 · amount: 124950 · debtor: 1150165 B.C. Ltd. · creditor: Arona Framing & Construction Inc. · currency: CAD · security: Builders' lien (listed as secured creditor on Notice of Receiver)
- secured creditorsnote: Per the Notice of Receiver based on Company information. A later Profix list dated 2020-01-08 shows $42,000.00 for Aloha Pools; the Receiver says it uses the higher figure where the lists differ. · page: 10 · as of: 2019-11-15 · amount: 54180 · debtor: 1150165 B.C. Ltd. · creditor: Aloha Pools Ltd. (also written Aldha Pools Ltd.) · currency: CAD · security: Builders' lien (listed as secured creditor on Notice of Receiver)
- secured creditorsnote: From a Profix creditor list dated 2020-01-08, reported as 'creditors' alongside the secured-creditor list; whether this creditor is secured is not stated. · page: 11 · as of: 2020-01-08 · amount: 14937.5 · debtor: 1150165 B.C. Ltd. · creditor: Pars Mechanical · currency: CAD · security: Not stated
- secured creditorsnote: Stated as plus interest. Per the Notice of Receiver based on Company information. Class of claim not specified in the document. · page: 11 · as of: 2019-06-26 · amount: 189226.43 · debtor: 1150165 B.C. Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Listed as secured creditor on Notice of Receiver (nature of security not stated)
- secured creditorsnote: From a Profix creditor list dated 2020-01-08; whether secured is not stated. · page: 11 · as of: 2020-01-08 · amount: 567 · debtor: 1150165 B.C. Ltd. · creditor: SEL Engineering Ltd. · currency: CAD · security: Not stated
- secured creditorsnote: From a Profix creditor list dated 2020-01-08; the previous general contractor. Whether secured is not stated. · page: 11 · as of: 2020-01-08 · amount: 1394.63 · debtor: 1150165 B.C. Ltd. · creditor: Profix Construction Ltd. · currency: CAD · security: Not stated
- operational summaryThe Receiver took possession of an unfinished, partially secured luxury residence under construction, restored HPO/insurance coverage, lifted a municipal Stop Work Order, and is now managing completion of construction with the goal of eventually marketing and selling the property.
- report date13 March 2020
- report noFirst Report