British Columbia · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 24 February 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 filing4 verified
- secured creditorsnote: Approximate figure ('approximately $3.92 million'), not including additional accrued interest, legal fees or costs; comprised of $3.80M due from 105 BC, $89,000 from Delta Golf, and $35,000 in estimated costs. Debt guaranteed by Kiran Bala and Ashok K. Bansal, related parties to director Kuldeep Bansal (personal guarantees). · page: 3 · as of: 2025-10-02 · amount: 3920000 · debtor: 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: First mortgage over 105 BC (the Lands), general security agreements, cross-collateralized guarantees of the Companies
- secured creditorsnote: Receiver has not reviewed validity of the mortgage; understood to be pursuant to a guarantee by the Companies; RBC's consent was not sought before granting; 093 BC initiated foreclosure proceedings in July 2023 (disputed/unreviewed security). · page: 4 · debtor: 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd. · creditor: 0938080 B.C. Ltd. · currency: CAD · security: Second mortgage granted August 2022; registered principal amount of $14 million (not a stated balance)
- secured creditorsnote: CRA Debt for unpaid GST and corporate income taxes; aggregate judgment amount against the Companies; quasi-governmental/deemed trust class claim. · page: 4 · as of: October 2024 (judgment date) · amount: 134000 · debtor: 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Judgments registered on title to the Lands in February 2025
- secured creditorsnote: Approximate arrears for 2025 property taxes, plus interest on prior 2024 property tax arrears and unpaid utilities. · page: 4 · as of: 2025 (current arrears) · amount: 62000 · debtor: 1051247 B.C. Ltd. · creditor: Municipal property tax authority (unnamed) · currency: CAD · security: Statutory lien for unpaid property taxes on the Lands