British Columbia · Receivership (court-appointed)
Affidavit of Raymond Ng
Affidavit · 25 August 2025
Also filed as: Affidavit of Raymond Ng
What we verified from this filing1 verified
- secured creditorsnote: Also guaranteed by Corporate Guarantors (Keltic Group Equities (2019) Ltd., Keltic Projects Development Ltd., the Nominee 1232616 B.C. Ltd., Keltic Canada Development Co. Ltd., DDAW Holdings Ltd.) and Additional Guarantors (Keltic (River Garden) Development Ltd. and 1319188 B.C. Ltd.); Personal Guarantors Wei Guo Li and Rui Wang guaranteed obligations personally. Amount stated is total indebtedness as at August 25, 2025 per affidavit para 15; further protective disbursement of $2,520,968.47 advanced Aug 18, 2025 to Syncra/BC Hydro is included/subsequent to this figure. · page: 3 · as of: 2025-08-25 · amount: 61905222.01 · debtor: Keltic (Prior) Development Limited Partnership and 1319191 B.C. Ltd. (the Borrower) · creditor: TS Alpha Venture Limited Partnership (Lender, acting through Shape Capital Corp. as mortgagee/servicer/trustee) · currency: CAD · security: Prior Street Mortgage and assignment of rents (Jan 20, 2023) over 220 Prior Street Lands; Prior Beneficial Charge and nominee direction; Borrower GSA; Nominee GSA (granted by 1232616 B.C. Ltd., the Nominee); Cash Security Assignment; River Garden Mortgage and assignment of rents (May 2, 2025) over Richmond lands; River Garden Beneficial Charge; River Garden GSA. Amended Mortgage Commitment facility limits: Construction Loan facility up to $62,000,000 and Letter of Credit facility up to $3,000,000 (originally $85,000,000 total under Nov 24, 2022 commitment, later amended to $65,000,000 maximum).