British Columbia · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 28 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 filing5 verified · 1 withheld
- secured creditorsnote: Current outstanding balance not stated. The Purchase Price of $57,500,000 is less than the amount owing under the Trez Secured Indebtedness; Debtors and any guarantors remain liable for the shortfall. Receiver refers to 'the two senior secured creditors' (Trez and Peterson) but this report gives no amount or security details for Peterson. · page: 5 · debtor: Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd. · creditor: TCC Mortgage Holdings Inc. (Trez) - senior secured lender · currency: CAD · security: Commitment letter dated December 13, 2019, as amended, principal loan amount $67,661,000 with interest accruing (original/committed principal, not a stated current balance). Security: project specific security agreement dated January 15, 2020 (assigned to Trez); Mortgage CA7982781 (as extended/modified) and Assignment of Rents CA7982782 registered January 15, 2020 granted by Shawn Oaks Holdings Ltd.
- cash on handnote: Closing cash balance held in trust by the Receiver. This excludes the separate $3.5 million BBG Deposit held in trust by the Receiver's legal counsel (Dentons). · as at: 2026-10-21 · amount: 1223752 · currency: CAD · qualifier: approximately $1.2 million as stated in the narrative
- operational summaryThe Receiver is managing and maintaining the strata property (72 units) in the receivership, collecting net rent, and has executed a purchase and sale agreement with Trez's affiliate (the Updated Trez Transaction) after a prior BBG transaction was terminated; the sale is subject to court approval.
- report date28 October 2026
- report noThird Report of the Receiver
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.