British Columbia · CCAA
Notice of Application - Monitor
Application / notice of application · 7 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 filing7 verified
- secured creditorsnote: Related party to the first mortgagee. Stakeholders ranking behind the First Mortgage, including the second mortgage, are not expected to recover from the Transaction. No amount stated. · page: 4 · debtor: PW3 LP and PW4/5 LP · creditor: Affiliates of the Purchasers - second mortgage · currency: CAD · security: Second mortgage charges registered against the Lands
- secured creditorsnote: No outstanding balance of the First Mortgage is stated on these pages. The credit bid is up to the full face value of the secured claim per the SISP, with Purchase Price $127,100,000 subject to adjustment. Purchasers are also the petitioners and DIP-related parties. · page: 4 · debtor: PW3 LP and PW4/5 LP (Nominee holds registered title as bare trustee) · creditor: WB Portwood Holdings (CA) ULC, WB Portwood Holdings MF ULC and WB Portwood Holdings (INT) MF ULC (the Purchasers) - first mortgage · currency: CAD · security: First Mortgage charges registered against the Lands (PW3 Lands and PW4/5 Lands). Purchase Price of $127,100,000 (subject to adjustment) is satisfied entirely by credit bid of amounts owing under the First Mortgage; this is a price, not a stated outstanding balance. Schedule D lists registered mortgages CA7263756, CA9821313 and CB2733461 and assignments of rents against the lands; the document does not say which is the first or second mortgage.
- secured creditorsnote: DIP Obligations are to be satisfied in full at or before Closing by credit against the Purchase Price or cash. Amount not stated on these pages. Court-ordered charge. · page: 6 · debtor: Debtors · creditor: Interim Lender (DIP Facility lender) - Interim Lender's Charge · currency: CAD · security: Interim Lender's Charge under the ARIO (court-ordered charge) securing DIP Obligations
- secured creditorsnote: Court-ordered charge. To be secured by a cash deposit equal to the Monitor's estimate of fees and expenses; amount not stated. · page: 6 · debtor: Debtors · creditor: Administration Charge beneficiaries (Monitor and professionals) · currency: CAD · security: Administration Charge under the ARIO
- unsecured creditorsnote: Contractual development obligations (works and services, parks, collector road, community contributions), not a stated debt amount. · page: 6 · basis: Liabilities owing to the City of Port Moody under the PW3 and PW4/5 Development Rights, to be assumed by the Purchasers as Assumed Liabilities · debtor: Nominee / PW3 LP / PW4/5 LP · creditor: City of Port Moody (development agreement obligations) · currency: CAD
- unsecured creditorsnote: No amount stated; security/bond reimbursement exposure rather than a stated claim. · page: 7 · basis: Bonds being letters of credit and cash security; liabilities under the QuadReal Bonds assumed by the Purchasers, conditional on QuadReal's consent · debtor: Debtors · creditor: QuadReal Real Estate Debt (Canada) GP Inc. (liabilities under the QuadReal Bonds) · currency: CAD
- secured creditorsnote: Lienholder not named and no amount stated; lien listed among claims to be discharged from title. · page: 34 · debtor: PW3 Lands · creditor: Claimant under Claim of Builders Lien CB3073798 · currency: CAD · security: Claim of Builders Lien CB3073798 registered against the PW3 Lands, listed in Schedule D as a claim to be discharged from title