British Columbia · CCAA
Application Response of KingSett to the Petitioners Application dated October 1, 2026
Application / notice of application · 1 October 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 filing1 verified
- secured creditorsnote: FLOOR: stated as 466 'remained indebted ... in an amount exceeding $59 million' (page 3); '$59 million' is a minimum, not an exact balance. Demand made on guarantee July 24, 2026; obligations outstanding and in default. Discharge conditions precedent (presale thresholds/gross sale proceeds) never satisfied. Amount is 466's guarantee indebtedness only; Borrowers' own balances and interim financing advances are not stated on these pages. · page: 3 · as of: May 2026 · amount: 59000000 · debtor: 663466 B.C. Ltd. (guarantor) · creditor: KingSett Mortgage Corporation · currency: CAD · security: Unlimited guarantee; mortgage of 416 East Columbia Street, New Westminster; general assignment of leases and rents; postponement of creditor and shareholder claims; general security agreement; court-ordered interim financing charge over Petitioners' assets including 466's. Commitment Letter facilities: two credit facilities, aggregate principal $95,300,000 (facility size, not a balance).