British Columbia · Receivership (court-appointed)
S253889 - Notice of Application - Receiver (re Sale Approval) (Oct. 14, 2026)
Application / notice of application · 14 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 filing2 verified
- secured creditorsnote: Amount stated 'plus interest, together with fees and other amounts'. The Purchase Price (sealed) will not satisfy the indebtedness, leaving a significant shortfall to NBC. NBC also funded the Receiver's Borrowings of $250,000, secured by the Receiver's Borrowing Charge (priority over existing security, subordinate to the Receiver's Charge and BIA statutory charges); the Receiver proposes to repay that $250,000 from sale proceeds, and NBC has agreed to fund up to an additional $250,000 if the sale does not close. · page: 4 · as of: 2025-05-12 · amount: 9369992.06 · debtor: Rupert Mews Limited Partnership, Rupert Mews GP Ltd. and 1152846 B.C. Ltd. (the Debtors, collectively) · creditor: National Bank of Canada · currency: CAD · security: Described as the Debtors' primary secured creditor; first-priority security over the Lands confirmed as registered, valid and enforceable by an independent security review by McCarthy Tétrault LLP (subject to standard assumptions and qualifications).
- secured creditorsnote: Post-receivership borrowing at the current authorized maximum of $250,000. Proposed to be increased to $500,000 only if the sale does not close by October 30, 2026; to be repaid from sale proceeds if it does. · page: 11 · as of: date of the application (cumulative borrowings, fully drawn) · amount: 250000 · debtor: Rupert Mews Limited Partnership, Rupert Mews GP Ltd. and 1152846 B.C. Ltd. (the Debtors, collectively) · creditor: National Bank of Canada (Receiver's Borrowings, funded by NBC and secured by the Receiver's Borrowing Charge) · currency: CAD · security: Receiver's Borrowings Charge: fixed and specific charge over the whole of the Property, ranking in priority to all security interests, trusts, liens, charges and encumbrances, but subordinate to the Receiver's Charge and the charges under BIA ss. 14.06(7), 81.4(4) and 81.6(2).