British Columbia · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 23 September 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 filing3 verified
- secured creditorsnote: Amount not stated in document; security ranks subordinate to KV per priority agreement · page: 4 · debtor: Boynton Developments (Kelowna) Ltd. · creditor: Travelers Insurance Company of Canada · currency: CAD · security: Security subordinated to KV Capital Inc. per Priority Agreement dated December 5, 2023, subject to certain exceptions in favour of Travelers
- secured creditorsnote: Individual amounts and claimants not itemized in this report · page: 4 · debtor: Boynton Developments (Kelowna) Ltd. · creditor: Various subcontractors and suppliers (builders' lien claimants) · currency: CAD · security: Multiple builders' lien claims and related certificates of pending litigation registered against the Boynton Lands
- secured creditorsnote: Original mortgage loan commitment was $19,455,000; amount due $7,583,290.88 as at June 6, 2025 plus accruing interest at 11% per annum compounded monthly. KV's security ranks in priority to Travelers Insurance Company of Canada per Priority Agreement dated December 5, 2023 (registered Dec 5, 2023, nos. CB1060211/CB1060212). Personal guarantee also provided by Robert Aird Fraser (director). · page: 5 · as of: 2025-06-06 · amount: 7583290.88 · debtor: Boynton Developments (Kelowna) Ltd. · creditor: KV Capital Inc. · currency: CAD · security: Mortgage and Assignment of Rents dated October 12, 2023 (registered Dec 1, 2023, Kamloops LTO nos. CB1056533/CB1056534); General Security Agreement dated October 12, 2023 (BC PPR base registration 816871P); Title insurance policy dated December 1, 2023; Environmental indemnity agreement dated October 12, 2023; Assignment of material contracts dated October 12, 2023; Unlimited guarantee dated October 12, 2023 from Boynton LP, Promintory LP, Promintory, and Robert Aird Fraser (related party guarantor)