British Columbia · Receivership (court-appointed)
Affidavit #1 of Candice Chang
Affidavit · 15 December 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 filing2 verified
- secured creditorsnote: Subordinated: priority agreements CB2216761 and CB2216762 (2025-07-31) grant Pacifica's mortgage (CA9466635) and assignment of rents (CA9466636) priority over this mortgage; balance not stated · page: 7 · debtor: 2490 Marine Drive Ltd. · creditor: 1548341 B.C. Ltd. · currency: CAD · security: Registered mortgage CB2213663 on title, registered 2025-07-31
- secured creditorsnote: Demand letter dated Nov 6, 2025 states secured indebtedness of $36,649,443.89 as of Nov 4, 2025 (per mortgage default for missed $1,000,000 principal paydown); demand amount of $36,654,643.89 as of Nov 4, 2025 is inclusive of legal costs, plus per diem interest of $18,128.05 (floating rate - subject to confirmation prior to payout); same total amount confirmed in Form 86 NOI (s.244 BIA) as 'total amount of indebtedness secured by the security' · page: 53 · as of: 2025-11-04 · amount: 36654643.89 · debtor: 2490 Marine Drive Ltd., Dundarave Beachside GP Ltd., Dundarave Beachside Limited Partnership, 1165886 B.C. Ltd. (borrowers); 1165877 B.C. Ltd., 1165857 B.C. Ltd., Hongpeng Yang, Evan Mont Wang (covenantors) · creditor: Pacifica Mortgage Investment Corporation · currency: CAD · security: Registered mortgage (CA9466635) and assignment of rents (CA9466636) on Lands, registered 2021-10-28; general security agreement/PPSA registration 351567N (Nov 4, 2021) over present and after-acquired property and inter-company debt assignments