British Columbia · Receivership (court-appointed)
Notice of Application - Receivership
Application / notice of application · 19 August 2025
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What we verified from this filing11 verified
- applicantRoyal Bank of Canada
- commencement date19 August 2025
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noNo. S-H-258355
- secured creditorsnote: Principal $949,118.82 accruing interest at 3.24%/annum ($84.25/diem); DSG Homes Ltd. guaranteed this debt pursuant to a guarantee and postponement of claim dated Nov 26, 2020 limited to $1,267,250.00, and Petitioner seeks judgment against DSG for the same $972,371.94 pursuant to that guarantee (related-party/corporate guarantor) · page: 2 · as of: 2025-09-04 · amount: 972371.94 · debtor: 1096580 B.C. Ltd. (NumberCo) · creditor: Royal Bank of Canada · currency: CAD · security: Mortgage and Assignment of Rents dated Nov 26, 2020, registered Nov 30, 2020 under Charge Nos. CA8609508/CA8609509 (first charge on Lands and Premises); GSA – Floating Charge on Land dated Nov 26, 2020, perfected Nov 19, 2020 under PPSA Base Registration No. 605248M, crystallized as third mortgage on Lands and Premises (Charge No. CB2042354, registered May 14, 2025) and as first charge on NumberCo's personal property
- secured creditorsnote: Debt comprises Royal Credit Line Agreement (ending 2525) and Visa account (ending 6582); 1096580 B.C. Ltd. (NumberCo) guaranteed a portion of DSG's obligations pursuant to a guarantee dated Nov 26, 2020 limited to $100,000.00, and Petitioner seeks judgment against NumberCo for $104,606.94 pursuant to that guarantee (related-party/corporate guarantor; guarantee-based judgment amount exceeds the stated $100,000 guarantee limit as recited in the document) · page: 3 · as of: 2025-09-04 · amount: 117527.17 · debtor: DSG Homes Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement signed by DSG on Nov 26, 2020, perfected in BC PPSA registry Nov 19, 2020 under Base Registration No. 605247M ("DSG GSA"), first charge on all existing and after-acquired personal property of DSG
- appointeeBDO Canada Limited
- appointee rolereceiver
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act, section 39(1) of the Law and Equity Act
- secured creditorsnote: Document states outstanding property taxes on the Lands and Premises 'exceed $22,000.00' — floor amount per operative word 'exceed' · page: 7 · as of: NOI/application filing date · amount: 22000 · debtor: 1096580 B.C. Ltd. (NumberCo) / DSG Homes Ltd. · creditor: Municipal property tax authority (unnamed) · currency: CAD · security: Statutory property tax arrears on the Lands and Premises
- secured creditorsnote: Petitioner states NumberCo and DSG 'appear to have certain outstanding tax obligations' and that liabilities owing to Canada Revenue Agency and Workers' Compensation 'are unknown' — existence acknowledged but amount not stated · page: 7 · debtor: 1096580 B.C. Ltd. (NumberCo) / DSG Homes Ltd. · creditor: Canada Revenue Agency / Workers' Compensation Board · currency: CAD