British Columbia · Receivership (court-appointed)
Affidavit #1 of N. Sidhu
Affidavit · 11 July 2025
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
- secured creditorsnote: Guarantors/covenantors: 1075 Nelson Development Limited Partnership, 1075 Nelson Development GP Inc., Brivia Family Investments Inc. (corporate), and Kheng Ly (personal guarantee - individual, not a company). Principal amount shown is registered/face principal, not a stated outstanding balance. · page: 19 · as of: 2023-06-15 (mortgage reference date) · debtor: 1075 Nelson Development Holdings Inc. · creditor: Travelers Insurance Company of Canada · currency: CAD · security: Mortgage and Assignment of Rents, Doc #CB737261/CB737262, registered on title to PID 031-725-953 (Lot A Block 7 District Lot 185 Group 1 New Westminster District Plan EPP118708); registered principal amount $155,000,000, interest 18% per annum, balance due 'ON DEMAND'; registered 2023-07-06
- secured creditorsnote: No principal or balance amount stated on these pages; blanket all-property registrant. · page: 19 · debtor: 1075 Nelson Development Holdings Inc. · creditor: KingSett Mortgage Corporation · currency: CAD · security: Mortgage CA8965975 and Assignment of Rents CA8965976 (registration nos.); referenced as prior encumbrance permitted by Travelers and defined as 'First Lender' in the 1409658 B.C. Ltd. mortgage terms
- secured creditorsnote: No principal or balance amount stated on these pages; blanket all-property registrant. · page: 19 · debtor: 1075 Nelson Development Holdings Inc. · creditor: HSBC Bank Canada · currency: CAD · security: Mortgage CB612313 and Assignment of Rents CB612314 (registration nos.), referenced as prior encumbrance permitted by Travelers
- secured creditorsnote: Mortgage terms document defines 'Mortgagee' as Brivia Group Inc., though the mortgage is described in the affidavit as being in favour of 1409658 B.C. Ltd. (a named respondent); possible related-party lending given common principal Kheng Ly's involvement in Brivia entities. Principal Sum is registered principal, not a stated outstanding balance. · page: 26 · as of: 2022-01-22 (mortgage reference date) · debtor: 1075 Nelson Development Limited Partnership (Borrower); 1075 Nelson Development Holdings Inc. (Mortgagor) · creditor: 1409658 B.C. Ltd. · currency: CAD · security: Mortgage CA9760141 and Assignment of Rents CA9760142; registered Principal Sum $11,250,000.00, interest 12% per annum compounded monthly, revolving loan pursuant to Loan Agreement dated May 28, 2021; Balance Due Date = date of demand; registered 2022-03-03