British Columbia · Receivership (court-appointed)
Fourth Report of the Receiver dated July 22, 2026
Court officer report · 22 July 2026
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What we verified from this filing5 verified
- secured creditorsnote: Amount is the judgment granted by the Judgement Order of January 30, 2025: $88,681,620.18 as of January 6, 2025, plus interest from and after the date of the Judgement Order at the rate set out therein; the order confirmed the validity and priority of KingSett's security subject only to the Receiver's Charge and the Receiver's Borrowings Charge. The report separately states the total KingSett Indebtedness as approximately $88,730,000 as at January 6, 2025, accruing interest at approximately $30,293.47 per day. KingSett is described as the Initial Debtors' largest, senior secured and likely fulcrum creditor. · page: 9 · as of: 2025-01-06 · amount: 88681620.18 · debtor: District Northwest Limited Partnership (borrower); 105 University View Homes Ltd. (nominee) · creditor: KingSett Mortgage Corporation · currency: CAD · security: First mortgage/charge in the principal amount of $70,000,000 and an assignment of rents registered against the Lands; second mortgage/charge in the principal amount of $99,890,625 registered against the Lands; general security agreement dated February 24, 2022 (105 University, as grantor); direction, acknowledgement, and security agreement dated February 24, 2022 (Initial Debtors). The $70,000,000 and $99,890,625 figures are registered principal amounts of the charges, not balances. The KingSett Loan was a first mortgage loan in the original principal amount of $79,912,500 under a commitment letter dated February 14, 2022 (as amended October 16, 2023, January 30, 2024, and March 19, 2024) - a principal amount, not a balance.
- purchaser1419195 B.C. Ltd.
- sale advisorJones Lang LaSalle Real Estate Services, Inc.
- sale outcometext: Amended sale process for the District Project remains ongoing following the mutual termination of the Stalking Horse APS · scope: whole_business · status: liquidation_in_progress
- stalking horse1419195 B.C. Ltd.