British Columbia · Receivership (court-appointed)
First Report of Receiver
Court officer report · 31 July 2024
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What we verified from this filing8 verified
- secured creditorsnote: Construction Loan commitment up to $15,000,000 (Oct 1, 2021 commitment letter, not a balance). Prose in report states 'owed in excess of $10,600,000'; exact redemption figure per Order Nisi as at Apr 22, 2024 is $10,600,756.12 plus costs and daily interest accruing at $2,460.97/day. First charge, priority over all respondents per Order Nisi. · page: 8 · as of: 2024-04-22 · amount: 10600756.12 · debtor: Grandlake Investments Corp. · creditor: First Commercial Bank (FCB) · currency: CAD · security: FCB Mortgage of the Development Property; General Security Agreement (GSA) over all present and after-acquired personal property
- secured creditorsnote: Contingent creditor; claim relates to insurance policy securing released pre-sale deposits used in construction. Amount described as 'approximately' and 'potential claim'. · page: 9 · amount: 2600000 · debtor: Grandlake Investments Corp. · creditor: Intact Insurance Company · currency: CAD · security: Intact Mortgage of the Development Property, ranking second in priority behind FCB Mortgage
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 682564.11 · debtor: Grandlake Investments Corp. · creditor: Fairbrothers Formwork Ltd. · currency: CAD · security: Registered builder's lien against title to the Development Property
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 103192.09 · debtor: Grandlake Investments Corp. · creditor: Armstrong Air Ltd. · currency: CAD · security: Registered builder's lien against title to the Development Property
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 51130.12 · debtor: Grandlake Investments Corp. · creditor: Griff Building Supplies Ltd. · currency: CAD · security: Registered builder's lien against title to the Development Property
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 38691.66 · debtor: Grandlake Investments Corp. · creditor: J.D.M. Enterprises Ltd. · currency: CAD · security: Registered builder's lien against title to the Development Property
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 91129.99 · debtor: Grandlake Investments Corp. · creditor: Cornerstone Architecture · currency: CAD · security: Registered builder's lien against title to the Development Property
- secured creditorsnote: Receiver had not yet reviewed the builder's lien claim as at date of report. · page: 10 · as of: 2024-07-31 · amount: 78092.88 · debtor: Grandlake Investments Corp. · creditor: LMS Limited Partnership · currency: CAD · security: Registered builder's lien against title to the Development Property