British Columbia · CCAA
Ninth Report of the Monitor
Court officer report · 6 October 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 filing14 verified
- unsecured creditorsnote: Not a debt claim: trust funds to be returned to purchasers, not part of the estate. Total deposits paid were $3,464,325, of which $1,456,023 was released before the proceedings. Purchasers whose deposits were released to Minglian under the DPI Policy may have recourse under that insurance policy. · page: 6 · basis: Presale deposits held in trust by Fasken ($938,000 commercial; $1,070,302 residential), to be returned on disclaimer of the Presale Agreements · amount: 2008302 · debtor: Minglian Holdings Ltd. · creditor: Presale Purchasers (Duet Project) - deposits held in trust · currency: CAD
- secured creditorsnote: Court-ordered charge. Of approximately $102,500 in professional fees incurred re the Camino Project, $87,500 is secured by the Camino Charge; the excess is not secured and the Monitor does not believe the Company will pay it. To be paid from the Remaining Camino Funds. · page: 7 · amount: 87500 · debtor: Minglian Holdings Ltd. · creditor: Monitor and Fasken (Camino Charge) · currency: CAD · security: Camino Charge on Minglian's interest in the Camino Project, granted under the Amending Order
- secured creditorsnote: Camino Secured Creditor; amount not stated. · page: 8 · debtor: Minglian Holdings Ltd. · creditor: 1100462 B.C. Ltd. · currency: CAD · security: Registered security interest against the Camino Lands
- secured creditorsnote: Camino Secured Creditor; amount not stated. Monitor proposes paying ~$46,500 of remaining Camino funds into Court unless the Camino Secured Creditors agree otherwise before the Discharge Application hearing. · page: 8 · debtor: Minglian Holdings Ltd. · creditor: Industrial and Commercial Bank of China (Canada) · currency: CAD · security: Registered security interest against the Camino Lands
- secured creditorsnote: Camino Secured Creditor; amount not stated. · page: 8 · debtor: Minglian Holdings Ltd. · creditor: Brilliant Phoenix Mortgage Investment Corp. · currency: CAD · security: Registered security interest against the Camino Lands
- secured creditorsnote: Camino Secured Creditors; amount not stated. · page: 8 · debtor: Minglian Holdings Ltd. · creditor: Baemei Gao and Hongze Xu · currency: CAD · security: Registered security interest against the Camino Lands
- secured creditorsnote: Camino Secured Creditor; amount not stated. · page: 8 · debtor: Minglian Holdings Ltd. · creditor: Shunzhang Chen · currency: CAD · security: Registered security interest against the Camino Lands
- secured creditorsnote: Principal amount of $1.63 million, together with accrued interest and costs, repaid in the October 6, 2026 interim distribution; amount shown is the principal repaid, not an outstanding balance after distribution. Remaining DIP funds (~$158,000) may flow to NBC on account of its secured indebtedness. · page: 9 · as of: 2026-10-06 · amount: 1630000 · debtor: Minglian Holdings Ltd. and 0882892 B.C. Ltd. · creditor: National Bank of Canada (NBC) - Interim Lender (Interim Financing Facility) · currency: CAD · security: Interim Financing Facility (DIP) to fund the Duet Project
- secured creditorsnote: Approximately $18.41 million paid on October 6, 2026 on account of secured indebtedness; this is the amount of the distribution, not a stated total balance owing. Total outstanding secured indebtedness is not stated. Further amounts from the Holdback Funds and Remaining DIP Funds may be paid to NBC on account of this indebtedness. NBC is also a registered Camino Secured Creditor. · page: 9 · as of: 2026-10-06 · amount: 18410000 · debtor: Minglian Holdings Ltd. and 0882892 B.C. Ltd. · creditor: National Bank of Canada (NBC) - secured indebtedness owed by the Debtors · currency: CAD
- closing confirmedscope: the Purchased Assets of the Duet Project under the Signature PSA · outcome: completed · effective: 2026-09-19 · purchaser: 1599790 B.C. Ltd. · date basis: stated · approval order date: 2026-07-21
- purchaser1599790 B.C. Ltd.
- recovery outcomeentries: basis: actual · quote: the balance of approximately $18.41 million to NBC on account of the secured indebtedness owed to it by the Debtors. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 18410000 · cumulative: false · amount high: 18410000 · class label: National Bank of Canada, secured indebtedness owed by the Debtors · creditor name: National Bank of Canada · interim final: unstated · claims qualifier: unstated · stated on: 2026-10-06 · table missing:
- sale advisorCushman Wakefield
- sale outcometext: The Transaction approved by the Vesting Order on July 21, 2026 closed on September 19, 2026 and the Monitor received the full Purchase Price. · scope: whole_business · status: closed