British Columbia · Receivership (court-appointed)
Notice of Application returnable July 25, 2025
Application / notice of application · 25 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 filing6 verified · 1 withheld
- applicantRoyal Bank of Canada
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noH-250800
- secured creditorsnote: Loan Facility of $90,000,000 under Credit Agreement dated June 7, 2024 (as amended); matured April 30, 2025; amount stated is total indebtedness as of July 10, 2025 with interest continuing to accrue at per diem rate of $18,369.87; Mortgage has priority over 1409658 B.C. Ltd. Mortgage and Travelers Mortgage per priority agreements; Guarantors Brivia Family Investments Inc. and Kheng Ly are related-party guarantors (personal guarantee by Kheng Ly) · page: 5 · as of: 2025-07-10 · amount: 91204611.06 · debtor: 1075 Nelson Development Limited Partnership, 1075 Nelson Development GP Inc., 1075 Nelson Development Holdings Inc. · creditor: Royal Bank of Canada (as administrative agent, syndication agent and lead arranger for lending syndicate including Meridian Credit Union and Bank of Montreal) · currency: CAD · security: Mortgage and assignment of rents (principal amount $108,000,000) registered May 11, 2023; project specific General Security Agreement dated May 11, 2023; Beneficial Mortgage and authorization dated May 11, 2023; unlimited guarantee dated May 11, 2023 from Guarantors (1075 GP, 1075 Holdings, Brivia Family Investments Inc., Kheng Ly); Debt Service Agreement dated May 11, 2023
- secured creditorsnote: Subordinated in priority to RBC's Mortgage pursuant to priority agreement; amount of indebtedness not stated in document · page: 5 · debtor: 1075 Nelson Development Holdings Inc. (Real Property owner) · creditor: 1409658 B.C. Ltd. · currency: CAD · security: Mortgage and assignment of rents registered on title to the Real Property (charge nos. CA9760141 as transferred by CB562708 and CA9760142 as transferred by CB562709)
- secured creditorsnote: Secures obligations under purchaser deposit protection insurance facility (maximum amount $120,000,000, a facility ceiling not a balance); exact quantum of present/future claims unknown per document; Mortgage granted priority over Travelers Mortgage pursuant to priority agreement · page: 5 · debtor: 1075 Nelson Development Holdings Inc. (Real Property owner) · creditor: Travelers Insurance Company of Canada · currency: CAD · security: Mortgage and assignment of rents registered on title to the Real Property (charge nos. CB737261 and CB737262)
1 extracted value is 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.