British Columbia · Receivership (court-appointed)
Affidavit of Robert Douglas sworn March 26, 2026
Affidavit · 26 March 2026
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What we verified from this filing7 verified
- secured creditorsnote: Amount plus accruing interest, costs and other reimbursable amounts remained outstanding; figure obtained by affiant's understanding from National Bank (informant information, not independently verified by affiant). National Bank issued Notice of Default and Reservation of Rights dated Jan 8, 2026 citing at least six defaults. · page: 4 · as of: 2026-03-23 · amount: 165623868.73 · debtor: 5055 Joyce Property Inc. · creditor: National Bank of Canada · currency: CAD · security: Senior secured position over the Property, all present and after-acquired personal property and other assets/undertakings of Joyce Holdings and Joyce Property, per Priority and Postponement Agreement dated January 9, 2023 (OPTrust's security postponed to National Bank's)
- secured creditorsnote: Unproven/disputed builders' lien claim filed against the Property · page: 5 · as of: 2026-01-13 · amount: 2837780.79 · debtor: 5055 Joyce Property Inc. · creditor: Phase Mechanical Systems Ltd. · currency: CAD · security: Claim of builders' lien filed against the Property
- secured creditorsnote: Unproven/disputed builders' lien claim filed against the Property · page: 5 · as of: 2025-12-29 · amount: 414055.64 · debtor: 5055 Joyce Property Inc. · creditor: CN Architectural Millwork and Construction Inc. · currency: CAD · security: Claim of builders' lien filed against the Property
- secured creditorsnote: Unproven/disputed builders' lien claim filed against the Property · page: 6 · as of: 2026-02-02 · amount: 1519429.06 · debtor: 5055 Joyce Property Inc. · creditor: Give Back Contracting (BC) Ltd. · currency: CAD · security: Claim of builders' lien filed against the Property
- secured creditorsnote: Unproven/disputed builders' lien claim submitted for filing against the Property · page: 6 · as of: 2026-03-10 · amount: 60958.5 · debtor: 5055 Joyce Property Inc. · creditor: Heidelberg Materials Canada Limited · currency: CAD · security: Claim of builders' lien submitted for filing against the Property
- secured creditorsnote: Indebtedness plus accruing interest, costs and other reimbursable amounts under Loan Agreement; interest accruing at Default Rate of $60,136/day. Security, including the Mortgage, is subordinate to National Bank of Canada security pursuant to Priority and Postponement Agreement dated Jan 9, 2023. Personal guarantee obtained from individual Ian Gillespie and from a family trust (related-party guarantors). · page: 6 · as of: 2026-03-19 · amount: 109211965 · debtor: 5055 Joyce Holdings Inc. · creditor: OPTrust Joyce Financing Corp. · currency: CAD · security: Mortgage (Demand Debenture) dated May 19, 2021 (amended Dec 11, 2024) registered as CA9017651/CA9017652; Beneficial Owner Charge & Direction; Pledge and Security Agreement (shares of Joyce Holdings/Joyce Property, granted by Westbank Holdings Ltd. and Joyce Holdings); PPSA registrations 977289M (Joyce Property) and 977290M (Joyce Holdings); Promissory Note; Assignment of Project Management Agreement; Guarantee and Indemnity Agreements from Joyce Property, Westbank Holdings Ltd., Abbey West Properties Inc., IGF Holdings Ltd., Ian Gillespie (individual) and the Ian Gillespie Family (2014) Trust
- secured creditorsnote: Unproven/disputed builders' lien claim submitted for filing against the Property · page: 6 · as of: 2026-02-23 · amount: 1263172.51 · debtor: 5055 Joyce Property Inc. · creditor: Nightingale Electrical Ltd. · currency: CAD · security: Claim of builders' lien submitted for filing against the Property