British Columbia · Receivership (court-appointed)
Receiver's First Report to the Court
Court officer report · 23 March 2026
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What we verified from this filing4 verified
- financial positionnote: Receiver states 'there are no available financial statements of the Debtor' because books and records were not maintained and no bank accounts could be identified; figure shown is assessment value, not book/fair value of total assets, and no liabilities total is stated in aggregate · page: 10 · as at: 2025-07-01 · basis: Most recent BC property assessment value of the Lands ($805,000 + $3,539,000); no audited or unaudited financial statements of the Debtor are available · scope: Debtor entity (JMTA Construction Ltd.) - Lands only, not a full balance sheet · currency: CAD · total assets: 4344000
- secured creditorsnote: Underlying debt is owed by BDS Job Agency Ltd.; Debtor has guaranteed these debts to CRA, but document states the guarantees themselves are unsecured obligations despite registration of judgments on title - conflicting characterization noted verbatim · page: 12 · amount: 376221.84 · debtor: JMTA Construction Ltd. (guarantor of BDS Job Agency Ltd.'s CRA debts) · creditor: Canada Revenue Agency (CRA Judgments re: BDS Job Agency Ltd.) · currency: CAD · security: Six judgments registered on title (registration nos. CB1293123-CB1293128), subordinate to Morteq's mortgage, registered as to the beneficial interest of BDS Job Agency Ltd.
- secured creditorsnote: First secured lender on title and only PPSA-registered secured creditor against the Debtor; security opinion from CW confirms validity/enforceability; interest and costs continuing to accrue; original $4,200,000 advance is the principal amount, not the current balance · page: 12 · as of: 2026-03-12 · amount: 4668553.65 · debtor: JMTA Construction Ltd. · creditor: Morteq Lending Corp. · currency: CAD · security: First-ranking mortgage and assignment of rents dated November 15, 2021; general security agreement; loan commitment letter dated October 25, 2021 (original principal advance of $4,200,000, per prose)
- secured creditorsnote: Deemed trust class under the Excise Tax Act while the RVO Entity is not bankrupt; Receiver has not been able to determine if this or any other GST liability is actually owing due to state of Debtor's books/records; if RVO Entity is assigned into bankruptcy, claim loses deemed trust status and becomes unsecured under s.67(2) BIA · page: 13 · amount: 6836.36 · debtor: JMTA Construction Ltd. · creditor: Canada Revenue Agency (CRA Mortgage - GST liability, deemed trust) · currency: CAD · security: CRA Mortgage registered on title (registration no. CB1349483), subordinate to Morteq's mortgage; registered principal amount secured in total is $1,410,019.84 (a registration ceiling covering guarantees of numerous other entities, not the Debtor's own balance)