British Columbia · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 18 November 2025
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 filing11 verified
- cash on handnote: R&D table (CAD thousands) shows Cash on Hand of 15,191; text says approximately $15.2 million held in the estate bank accounts. · as at: 2025-11-03 · amount: 15191000 · currency: CAD · qualifier: approximately $15.2 million
- closing confirmedscope: Commercial Units 1 and 2 · outcome: completed · purchaser: 7D Holdings Ltd. · date basis: unstated · approval order date: 2025-07-16; scope: nine Residential Units · outcome: completed · date basis: unstated
- disbursementsnote: Includes receiver borrowings repayment of $503K and professional fees of $1,037K. · since: Receivership Date (R&D period February 28, 2025 to November 3, 2025) · amount: 2073000 · currency: CAD
- operational summaryThe Receiver is selling the remaining unsold residential and commercial strata units of the Chloe development (nine residential and two commercial sales completed), managing construction/deficiency work, and seeking a distribution order to repay National Bank of Canada from sale proceeds.
- professional feesnote: Total includes taxes ($77K) and disbursements ($18K); fees alone $942K. FTI total $551K (fees $523K, taxes $26K); McCarthy total $486K (fees $419K, disbursements $17K, taxes $51K). · party: FTI Consulting Canada Inc. (Receiver) and McCarthy Tu00e9trault LLP (Receiver's counsel) · amount: 1037000 · period: February 28, 2025 to November 3, 2025 (paid to date) · currency: CAD
- purchaser7D Holdings Ltd.; price: sealed: false · currency: CAD · scope: nine Residential Units · status: closed · name note: purchasers of nine Residential Units under the Sales Approval Order, unnamed · structure: real_property · name source: operative · relationship: unstated
- receipts cumulativenote: Includes opening cash $20K, receiver borrowings $500K, residential sales proceeds $11,438K, commercial sales proceeds $2,898K, commercial lease proceeds $22K, SPA holdback funds $2,386K. · since: Receivership Date (R&D period February 28, 2025 to November 3, 2025) · amount: 17264000 · currency: CAD
- report date18 November 2025
- report noSecond Report of the Receiver
- sale advisorMarcus & Millichap REIS Canada Inc.
- sale outcometext: the Receiver has completed the sales of nine Residential Units pursuant to the Sales Approval Order as well as the two Commercial Units pursuant to the Commercial SAVO · scope: parcel · status: closed