British Columbia · CCAA
Application Response dated September 29, 2026
Application / notice of application · 29 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 filing3 verified
- secured creditorsnote: Outstanding indebtedness stated as 'approximately $59.6 million' as at May 31, 2026 (approximate figure in prose). Demand made May 4, 2026; facilities in default. KingSett is the Debtors' principal secured creditor. Also the interim lender under the Interim Financing Facility (max $27,900,000 authorized; borrowings capped at $500,000 by Initial Order, then $1,000,000 by the ARIO; secured by Interim Lender's Charge) — post-filing financing, not pre-filing debt. KingSett noted defaults under the Interim Financing Facility on July 24, 2026. · page: 2 · as of: 2026-05-31 · amount: 59600000 · debtor: Symphony Homes (Moonlight Sonata) Limited, 1168386 B.C. Ltd., 1197030 B.C. Ltd., 1197062 B.C. Ltd. (Borrowers); 663466 B.C. Ltd. (Corporate Guarantor) · creditor: KingSett Mortgage Corporation · currency: CAD · security: First-ranking mortgage on the Project, plus general and other security, including security over lands owned by the Corporate Guarantor. Credit Facilities: two facilities under commitment letters dated Sept 27, 2024 and April 15, 2025, aggregate principal $95,300,000 (facility limit, not the outstanding balance). Guaranteed by 663466 B.C. Ltd. and by the principals (personal guarantees by two individuals, father and son).
- unsecured creditorsnote: Disputed: Monitor says SHL has no contractual basis to issue the invoices (fees are a percentage of actual construction costs under Article A-5) and no obligation to pay. SHL is a related non-Petitioner entity; the CM Agreement was disclaimed effective Sept 3, 2026. Post-filing invoices; total not stated (3 x $13,750 would be a computation, not stated). · page: 4 · basis: Three post-filing invoices each charging a $13,750 'semi-monthly' construction management fee under the SHL CM Agreement · debtor: Petitioners · creditor: Symphony Homes Limited (SHL) — CM Invoices · currency: CAD
- unsecured creditorsnote: Post-filing amounts, not pre-filing debt. Monitor proposes to set off against the $86,185.66 HST Refund held by the Petitioners, leaving net $62,841.77 owing from the Petitioners to the Monitor. · page: 5 · basis: Post-filing services invoices the Petitioners claim to have paid out of pocket for the Project; validity not admitted or determined by the Monitor · amount: 23343.89 · debtor: Petitioners · creditor: Trade suppliers of the Petitioners (post-filing 'Services Invoices') · currency: CAD