Newfoundland and Labrador · Receivership (court-appointed)
245 246 Notice Twin Rivers
Notice of receiver (s. 245 / Form 87) · 12 December 2018
Also filed as: Appendix B - 245 246 Notice Twin Rivers
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 filing4 verified
- financial positionnote: The only asset described is an interest in a land lease with Parks Canada, at Unknown net book value. Item 4(e) states the list of other creditors “is attached as Schedule A” — but the document as published is two pages and contains no Schedule A, so no unsecured creditors can be recorded from this capture. Operations (the 18-hole Twin Rivers golf course at the Terra Nova Resort) ceased before the appointment; the Receiver's plan is a formal sale process for the lease together with the associated Terra Nova Resort business. Paragraph 1 of the notice describes the property as that “of Sports Villas, an insolvent corporation” — the related resort entity named in BDO's extranet address — while the heading and signature block name Twin Rivers Golf Inc.; recorded under the named debtor. · page: 1 · basis: Form 87, BDO Canada Limited, December 2018. · scope: Twin Rivers Golf Inc. (entity level) · currency: CAD
- secured creditorspage: 1 · basis: Form 87 — Notice of Receiver or Receiver/Manager (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated December 2018, item 4(d). Receiver appointed December 12, 2018 by the Company's primary secured lender, Business Development Bank of Canada, under a mortgage on a land lease in Port Blanford, NL, registered October 2, 2003, Roll 2583, Frame 1055 (private appointment). · amount: 3228000 · debtor: Twin Rivers Golf Inc. · creditor: Business Development Bank of Canada · currency: CAD · security: Mortgage on the land lease located in Port Blanford, NL, registered October 2, 2003, Roll 2583, Frame 1055; BDC is the appointing lender.
- secured creditorsnote: The amount is stated as “Unknown”. · page: 1 · basis: Form 87 — Notice of Receiver or Receiver/Manager (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated December 2018, item 4(d). Receiver appointed December 12, 2018 by the Company's primary secured lender, Business Development Bank of Canada, under a mortgage on a land lease in Port Blanford, NL, registered October 2, 2003, Roll 2583, Frame 1055 (private appointment). · debtor: Twin Rivers Golf Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the Property.
- secured creditorsnote: The amount is stated as “Unknown”. · page: 1 · basis: Form 87 — Notice of Receiver or Receiver/Manager (ss.245(1) & 246(1) BIA), BDO Canada Limited, dated December 2018, item 4(d). Receiver appointed December 12, 2018 by the Company's primary secured lender, Business Development Bank of Canada, under a mortgage on a land lease in Port Blanford, NL, registered October 2, 2003, Roll 2583, Frame 1055 (private appointment). · debtor: Twin Rivers Golf Inc. · creditor: De Lage Landen Financial Services Canada Inc. · currency: CAD · security: Listed under item 4(d) as a creditor holding security on the Property.