British Columbia · Receivership (court-appointed)
Filed Petition
Application / notice of application · 20 February 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 filing8 verified · 1 withheld
- applicantFour Points Insurance Company Ltd., The Mutual Fire Insurance Company of British Columbia, and Everest Insurance Company of Canada
- commencement date20 February 2025
- court file noS-251313
- appointeeErnst & Young Inc.
- appointee rolereceiver
- statutory basiss. 39 of the Law and Equity Act, RSBC 1996, c. 253, as amended, and Rules 10-2 and 16-1 of the Civil Rules
- unsecured creditorsnote: Stated as a further amount 'payable to the MF Insurers on February 28, 2025' (a future payable as at the petition date). Same MF Broker Agreement commissions/premiums-remittance obligation as the Jan 31 amount. · page: 10 · as of: 2025-02-28 · basis: Further amount payable to the MF Insurers under the MF Broker Agreement, as stated in the receivership petition · amount: 861939.37 · debtor: Stratford Underwriting Agency Inc. · creditor: The MF Insurers (Four Points Insurance Company Ltd. and The Mutual Fire Insurance Company of British Columbia) · currency: CAD
- unsecured creditorsnote: Stated as an estimated amount ('the estimated amount of approximately $1,469,098.84') that Stratford was required to pay/remit to the MF Insurers on Jan 31, 2025 and defaulted on. Creditor-side receivership petition (petitioners are Stratford's insurer-principals); figure recited on the face, not a debtor statement of affairs. Likely subject to a trust claim - Stratford was required to hold premiums in separate trust accounts. · page: 10 · as of: 2025-01-31 · basis: Commissions owing under s.3(2) of the MF Broker Agreement in respect of the MF Policies, as stated in the receivership petition (the 'Payment Default') · amount: 1469098.84 · debtor: Stratford Underwriting Agency Inc. · creditor: The MF Insurers (Four Points Insurance Company Ltd. and The Mutual Fire Insurance Company of British Columbia) · currency: CAD
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.