British Columbia · Receivership (court-appointed)
Affidavit #1 of A. Fernando
Affidavit · 27 August 2025
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What we verified from this filing2 verified
- secured creditorsnote: Priority subordinated/postponed to National Bank of Canada's mortgage (CB251146/CB251147 and its modification CB890840/CB890841) per Form C priority and postponement agreements dated for reference 2022-09-19 (registered as CB252742/CB252743) and 2023-08-31 (registered as CB903511/CB903512). No outstanding amount stated in these pages. · page: 30 · debtor: Carvolth 86th Ave Lands Ltd. · creditor: Cedar Ridge Investments Ltd. · currency: CAD · security: Mortgage (registration no. CB251998) and assignment of rents (registration no. CB251999) registered 2022-09-29 against the Property (PID 002-331-471)
- secured creditorsnote: Figures shown are registered/modified principal (facility) amounts, not a stated outstanding balance; no dollar balance appears on these pages (a Demand Letter dated 2025-07-15 is referenced in the affidavit but its text is not among the pages provided). Debt is further secured by joint and several guarantees: corporate guarantors Maskeen Homes Ltd. and Maskeen Development Ltd. (guarantee limited to $10,400,000, dated Sept 29, 2022; a further corporate guarantee referenced as Exhibit KK dated Sept 8, 2023 was not included in these pages) and personal guarantors (individuals, names omitted per person-not-company rule) limited to $10,400,000 (Sept 29, 2022) and $11,000,000 (Sept 8, 2023). · page: 180 · debtor: Maskeen (Carvolth) Limited Partnership and Maskeen (Carvolth) GP Inc. (Borrower); Carvolth 86th Ave Lands Ltd. (Nominee/registered owner of the mortgaged Property) · creditor: National Bank of Canada · currency: CAD · security: Mortgage and assignment of rents registered against the Property (PID 002-331-471) at the New Westminster Land Title Office as CB251146 (mortgage) and CB251147 (assignment of rents) on 2022-09-29; registered principal amount increased from $10,400,000 (original, Sept 22, 2022 mortgage) to $11,000,000 per Form C modification agreement dated for reference August 31, 2023, registered as CB890840/CB890841 on 2023-09-14. Also secured by general security agreements (Maskeen Homes Ltd. and Maskeen Development Ltd., Sept 29, 2022), site-specific security agreements (Maskeen LP and the Nominee, Sept 29, 2022), general assignment of rents and leases, direction and beneficial charge agreements, assignment of insurance proceeds, and an environmental indemnity agreement.