British Columbia · Receivership (court-appointed)
Affidavit #1 of Blake Johnston dated January 7, 2026
Affidavit · 7 January 2026
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What we verified from this filing11 verified
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6; no lien amount stated in these pages · page: 2 · debtor: Maskeen 177 Projects Ltd. et al. · creditor: 1299615 B.C. Ltd. · currency: CAD · security: Charge/encumbrance registered against the Lands
- secured creditorsnote: Serialized-equipment/vehicle PPSA financiers aggregated per instructions; amounts not stated · page: 2 · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Security interests registered in the Personal Property Registry against the Property: BMW Canada Inc.; Front Street Leasing LP O/A Dilawri Leasing; Openroad Leasing; TD Auto Finance (Canada) Inc.
- secured creditorsnote: Blanket registrant; amount not stated · page: 3 · creditor: Vancouver City Savings Credit Union · currency: CAD · security: Security interest registered in the Personal Property Registry against the Property
- secured creditorsnote: Blanket registrant; amount not stated · page: 3 · creditor: First West Credit Union · currency: CAD · security: Security interest registered in the Personal Property Registry against the Property
- secured creditorsnote: Blanket registrant; amount not stated · page: 3 · creditor: Tokio Marine Canada Ltd. · currency: CAD · security: Security interest registered in the Personal Property Registry against the Property
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6 · page: 10 · as of: 2025-11-20 · debtor: Maskeen 177 Projects Ltd. et al. (Lot 2) · creditor: PDQ Construction Ltd. · currency: CAD · security: Builders' lien registered against Lot 2 (CB2466013)
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6 · page: 10 · as of: 2025-07-09 · debtor: Maskeen 177 Projects Ltd. et al. (Lot 2) · creditor: Integrity Shoring & Civil Ltd. (also known as ISC Shoring & Civil Ltd.) · currency: CAD · security: Builders' lien registered against Lot 2 (CB2163795); Certificate of Pending Litigation against Lot 2 (CB2446009, dated Nov 10, 2025)
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6; amount unstated (component of ~$1,173,708 total liens noted by MCAP's solicitor as of late June 2025) · page: 10 · as of: 2025-12-01 · debtor: Maskeen 177 Projects Ltd. et al. (Lot 1 and Lot 2) · creditor: Country Green Excavating Limited · currency: CAD · security: Builders' liens registered against Lot 1 (CB2490015) and Lot 2 (CB2489780); also Certificate of Pending Litigation against Lot 1 and Lot 2 (CB2496667, dated Dec 4, 2025)
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6 · page: 10 · as of: 2025-11-06 · debtor: Maskeen 177 Projects Ltd. et al. (Lot 2) · creditor: Nexgen Environmental Services Ltd. · currency: CAD · security: Builders' lien registered against Lot 2 (CB2440755)
- secured creditorsnote: Ranks subsequent in priority to MCAP's mortgage per petition para 6 · page: 10 · as of: 2025-11-18 · debtor: Maskeen 177 Projects Ltd. et al. (Lot 2) · creditor: Madness Forming & Construction Services Inc. · currency: CAD · security: Builders' lien registered against Lot 2 (CB2461018)
- secured creditorsnote: Indebtedness figure is per accounting exhibit as of Jan 5, 2026; does not include prepayment penalty. Guarantors (0816980 B.C. Ltd., 0816984 B.C. Ltd., Pro Ridge Homes Ltd., Proridge Ventures Inc., and individuals Jagdip Singh Sivia, Amarjit Kaur Sivia, Jatinderpal Singh Gill, Harbans Kaur Gill, Prabhdev Singh Khera) provided personal/corporate guarantees dated Nov 23, 2022. · page: 11 · as of: 2026-01-05 · amount: 15429766.11 · debtor: Maskeen 177 Projects Ltd., 0676086 B.C. Ltd., Maskeen Development Ltd., Maskeen Homes Ltd., 1302095 B.C. Ltd., 0943151 B.C. Ltd. (Borrowers) · creditor: MCAP Financial Corporation · currency: CAD · security: Form B mortgage and assignment of rents registered Dec 15, 2022 (CB391307/CB371308) and Dec 21, 2022 (CB400675/CB400676) as first charge on the Lands; collateral first mortgage over 13761 Grosvenor Road; General Security Agreement (PPSA); Beneficiary Authorization and Charge Agreements; Site-Specific Security Agreements; Interest Reserve Agreement; Assignment of Strata Voting Rights; Assignments of Insurance Proceeds; Assignments and Postponements. Original mortgage principal registered at $95,900,000 (per Loan Agreement); Facility 1 non-revolving first mortgage construction loan originally up to $91,900,000, later amended to $24,000,000 non-revolving land facility (+$200,000); Facility 2 letter of credit facility reduced to $837,342.