British Columbia · Receivership (court-appointed)
Notice of Application Receivership - FILED (H260844)
Application / notice of application · 15 September 2020
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 · 2 withheld
- applicantBeem Credit Union
- appointeeD. Manning & Associates Inc.
- appointee rolereceiver and manager
- secured creditorsnote: Amount owed as of September 3, 2026, with interest accruing at 7.20% p.a. compounded semi-annually, per diem $785.12; excludes penalties, legal costs, bonuses and other costs of default. Loan matured September 23, 2025. Beem paid $34,780.77 toward property taxes on August 24, 2026 (included in or additional to the balance is not stated). Mortgage, Beneficial Mortgage and GSA stated to be first in priority; Borrowers acknowledged default and did not contest validity. · page: 4 · as of: 2026-09-03 · amount: 4199319.45 · debtor: 0973001 B.C. Ltd. and 2167 Dundas Street Holdings Ltd. · creditor: Beem Credit Union (formerly BlueShore Financial Credit Union) · currency: CAD · security: First priority mortgage and assignment of rents dated September 15, 2020 (LTO nos. CA8445664, CA8445665); Beneficial Mortgage from 2167 Dundas; GSA registered in PPR under base registration 483867M over all personal property; indemnity from Christopher Robert Wall and Christopher Wall Inc. Original term loan advanced: $4,500,000 (original advance, not the balance).
- secured creditorsnote: Registered amount of the second mortgage ($775,000 at 8%), not stated as an outstanding balance. Pending modification application CB2635642 would increase it to $850,000 and the rate to 12% without Beem's consent; Beem says the priority agreement does not permit such increases. · page: 5 · amount: 775000 · debtor: 0973001 B.C. Ltd. · creditor: Success Realty & Insurance Services Ltd. · currency: CAD · security: Second mortgage registered against the Lands; ranks behind Beem under a priority agreement.
- unsecured creditorsnote: Creditor not named. · page: 5 · basis: Unpaid metered utilities outstanding on the Lands, as stated in Beem's application · amount: 13093.47 · debtor: 0973001 B.C. Ltd. · creditor: Utility provider(s) (unpaid metered utilities) · currency: CAD
- unsecured creditorsnote: Comprises delinquent 2023 taxes (three years delinquent), 2024 and 2025 arrears and interest, 2026 taxes and interest, and penalties. Lands at risk of tax sale. Beem paid $34,780.77 toward the taxes on August 24, 2026. Municipal taxes typically rank ahead of mortgage security; the document does not say so expressly. · page: 5 · basis: Property tax arrears stated in Beem's application · amount: 143175.31 · debtor: 0973001 B.C. Ltd. · creditor: Property tax authority (municipal taxes on the Lands) · currency: CAD
2 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.