British Columbia · Receivership (court-appointed)
Notice of Application - MortEq Lending Corp.
Application / notice of application · 27 November 2025
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 filing9 verified
- applicantMortEq Lending Corp.
- commencement date27 November 2025
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noH-259011
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- statutory basissection 243 of the Bankruptcy and Insolvency Act, RSC 1985, c B-3 and section 39 of the Law and Equity Act, RSBC 1996, c 253
- secured creditorsnote: Indebtedness inclusive of accrued interest, fees and legal costs to Nov 17, 2025, exclusive of interest accruing thereafter (per diem $7,188.36); same exact figure ($15,421,825.27) is also stated elsewhere in the document as of Feb 28, 2025 (p.7) and Feb 28, 2028 [sic, likely typo for 2025] (p.13) — apparent drafting inconsistency in source document as to the applicable date. Also secured by personal guarantee of Paramjit Singh, sole director of the Debtor (related party/guarantor role, individual name only) · page: 3 · as of: 2025-11-17 · amount: 15421825.27 · debtor: 1174214 B.C. Ltd. · creditor: MortEq Lending Corp. · currency: CAD · security: First-ranking mortgage and assignment of rents (instrument nos. CB719245/CB719246) registered against the Lands, principal amount $12,500,000; general security agreement (GSA) perfected under BC PPSA (base registration no. 629919P) over all present and after-acquired personal property; assignment of contracts, warranties, licenses, permits and project plans re: construction on the Lands
- secured creditorsnote: Named as a lower-ranking secured creditor (lienholder); amount of lien not stated in document; listed as respondent in proceedings · page: 7 · debtor: 1174214 B.C. Ltd. · creditor: PMG Landscape Architects · currency: CAD · security: Claim of Builders Lien registered against title to the Lands