British Columbia · CCAA
Monitor's Twelfth Report, September 28, 2026
Court officer report · 28 September 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 filing7 verified
- secured creditorsnote: Amount owing to Five Peaks is not stated; net proceeds of $3.0M were estimated from the $6.95M list price after deducting the Five Peaks debt and transaction costs. Non-Petitioner debtor. · page: 3 · as of: 2026-01-29 · debtor: Arrowview Estates Development GP Ltd. / Arrowview Estates Development Limited Partnership (non-Petitioners) · creditor: Five Peaks Capital Ltd. · currency: CAD · security: First-ranking mortgage over the Arrowview Lands (PIDs 024-356-760, 003-264-840, 024-356-743); Order Nisi of Foreclosure granted January 29, 2026 with six-month redemption period expiring July 29, 2026.
- secured creditorsnote: Held by the Petitioners as an asset (security for Arrowview's obligations under the Settlement Agreement), not a debt owed by them. Arrowview is in default of the Settlement Agreement. · page: 3 · as of: 2025-09-08 · debtor: Arrowview Estates Development GP Ltd. / Arrowview Estates Development Limited Partnership (non-Petitioners) · creditor: San Group (the Petitioners / San Group Plaintiffs, as second mortgagee, via the Monitor) · currency: CAD · security: Second-ranking mortgage and assignment of rents over the Arrowview Lands, registered September 8, 2025 under Nos. CB2323355 and CB2323356; registered principal amount $2,646,910 (a registered principal, not a stated outstanding balance).
- unsecured creditorsnote: Contingent/regulatory export duty exposure only. No amount stated; mentioned as an activity item, not a stated claim. · page: 14 · basis: Letters of credit and cash collateral held by a surety to secure potential export duty obligations of the Petitioners; discussions with customs brokers and RBC counsel · debtor: San Group (Petitioners) · creditor: Royal Bank of Canada (RBC) and Business Development Bank of Canada (BDC) (the Senior Lenders) · currency: CAD
- secured creditorsnote: No outstanding pre-filing balance owed to the Senior Lenders is stated on these pages; amount is null. The DIP facility is a post-filing facility; some of it was transferred/assigned to BDC by syndication or participation. · page: 19 · debtor: San Group (Petitioners) · creditor: Royal Bank of Canada (RBC) and Business Development Bank of Canada (BDC) (the Senior Lenders) · currency: CAD · security: Accounts receivable are collateral of the Senior Lenders (page 12). Senior Lenders hold the DIP Financing Facility and DIP Lender's Charge; DIP authority increased from $600,000 to $1,000,000, $5,000,000 and $7,000,000 (pages 19-20). Second interim distribution to RBC of $2,500,000 made post-Eleventh Report; final distributions of $5,118K forecast to the Senior Lenders by June 30, 2027 (pages 14, 16).
- secured creditorsnote: No amount stated on these pages; net proceeds to be held by CWB's counsel pending further court order. · page: 20 · as of: 2025-01-29 · debtor: San Forest Specialty Ltd., Mountainside Logging Ltd., San Forest Products Ltd., San Industries Ltd. · creditor: Canadian Western Bank (CWB) · currency: CAD · security: Security interests over the property of San Forest Specialty Ltd. and Mountainside Logging Ltd., plus specific security over certain property of San Forest and San Industries (the Enforcement Property); stay lifted January 29, 2025 to permit enforcement.
- recovery outcomeentries: basis: actual · quote: Pursuant to the Second Distribution Order, made a distribution to RBC of $2,500,000; · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 2500000 · cumulative: false · amount high: 2500000 · class label: Royal Bank of Canada (second interim distribution) · creditor name: Royal Bank of Canada · interim final: interim · claims qualifier: unstated · stated on: 2026-09-28 · table missing:
- sale outcometext: The Arrowview Lands remain listed for sale; the list price was reduced to $6,950,000 on September 8, 2026 and the marketing process is ongoing. · scope: parcel · status: listed