British Columbia · Receivership (court-appointed)
Notice of Application
Application / notice of application · 4 April 2025
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What we verified from this filing6 verified
- secured creditorsnote: Obtained conduct of sale in its own foreclosure proceeding (Action No. 248726, New Westminster Registry) April 30, 2024; unable to obtain sufficient offers to extinguish its debt. · page: 3 · debtor: Inspira Development (Insignia) Ltd. · creditor: 1294049 B.C. Ltd. · currency: CAD · security: Chargeholder with registration against the Lands, ranking subsequent to the CMLS Mortgage
- secured creditorspage: 3 · debtor: Inspira Development (Insignia) Ltd. · creditor: Ankenman Marchand Architects · currency: CAD · security: Chargeholder with registration against the Lands, ranking subsequent to the CMLS Mortgage
- secured creditorspage: 3 · debtor: Inspira Development (Insignia) Ltd. · creditor: Brokers Edge Financial Services Inc. · currency: CAD · security: Chargeholder with registration against the Lands, ranking subsequent to the CMLS Mortgage
- secured creditorsnote: Loan originally advanced by Canada ICI Capital Corporation in the principal amount of $12,000,000 pursuant to a commitment letter dated Jan 22, 2021; assigned to CMLS by assignment agreement Feb 13, 2023 and Form C Transfer registered Feb 16, 2023. Amount stated is exclusive of legal and other costs; interest accruing at ~$4,060.74/day (~$121,800/month). Indebtedness personally guaranteed (unlimited) by Gurjit Daara and Chase Allen. · page: 3 · as of: 2025-03-25 · amount: 15864852.65 · debtor: Inspira Development (Insignia) Ltd. · creditor: CMLS Financial Ltd. · currency: CAD · security: Mortgage and assignment of rents dated March 11, 2021 over the Lands; General Security Agreement dated February 19, 2021 granting a first-ranking charge over all present and after-acquired personal property, registered in the BC PPSA registry under base registration number 787438M
- secured creditorspage: 3 · debtor: Inspira Development (Insignia) Ltd. · creditor: Sonic Steel Ltd. · currency: CAD · security: Chargeholder with registration against the Lands, ranking subsequent to the CMLS Mortgage
- recovery outcomeentries: basis: unstated · quote: Ultimately, 1294 did not bring any offers to this Court for approval and, accordingly, it is clear that CMLS is the fulcrum creditor that may suffer a shortfall in the amount due and owing to it. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: CMLS Financial Ltd. · creditor name: CMLS Financial Ltd. · interim final: unstated · claims qualifier: unstated · table missing: