British Columbia · Receivership (court-appointed)
Receiver's First Report
Court officer report · 29 July 2026
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 filing2 verified
- secured creditorsnote: First Mortgagee; described in report as approximate figure ('approximately $39 million') · page: 4 · as of: 2026-02-27 · amount: 39000000 · debtor: 2490 Marine Drive Ltd. / Dundarave Beachside GP Ltd. / Dundarave Beachside Limited Partnership · creditor: Pacifica Mortgage Investment Corporation · currency: CAD · security: Registered first-ranking mortgage security over the Lands, estoppel certificates, mortgages of the Partnership's beneficial interest in the Lands, and a first-ranking general security agreement, pursuant to a commercial commitment letter dated October 14, 2021, as renewed by agreements dated April 13, 2023 and April 8, 2024, and amended by agreement dated May 6, 2025
- secured creditorsnote: Second Mortgagee; described in report as approximate figure ('approximately $9.1 million') · page: 5 · as of: date of this report · amount: 9100000 · debtor: 2490 Marine Drive Ltd. / Dundarave Beachside GP Ltd. / Dundarave Beachside Limited Partnership · creditor: 1548341 B.C. Ltd. · currency: CAD · security: Registered second-ranking mortgage security over the Lands and a second-ranking general security agreement, pursuant to a loan agreement dated July 30, 2025