British Columbia · Receivership (court-appointed)
First Report of the Receiver dated April 27, 2026
Court officer report · 27 April 2026
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What we verified from this filing20 verified
- report date27 April 2026
- report noFirst Report
- secured creditorspage: 6 · as of: 2026-01-14 · amount: 46641.63 · debtor: Lot 1 · creditor: NorthCoast Building Products Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2565597, registered 2026-01-14
- secured creditorsnote: Per-lot arrears as of December 1, 2025: $258,538 (Lot 1), $161,406 (Lot 2), $34,185 (Lot 4), with interest and charges continuing to accrue; document does not state a combined total. · page: 6 · as of: 2025-12-01 · debtor: Lot 1, Lot 2 and Lot 4 · creditor: City of Surrey (property tax authority) · currency: CAD · security: Statutory municipal property tax arrears/lien per property tax certificates
- secured creditorsnote: Litigation notice related to the receivership proceedings, distinct from MCAP's mortgage security recorded separately above; no charge amount. · page: 6 · as of: 2026-01-08 · debtor: Lot 1, Lot 2 and Lot 4 · creditor: MCAP Financial Corporation · currency: CAD · security: Certificate of Pending Litigation, charge CB2556471, registered 2026-01-08
- secured creditorsnote: No charge amount registered on title; litigation notice only, not a stated debt amount. · page: 6 · as of: 2026-02-23 · debtor: Lot 1, Lot 2 and Lot 4 · creditor: Union Lending Corporation · currency: CAD · security: Certificate of Pending Litigation, charge CB2635996, registered 2026-02-23
- secured creditorsnote: Amount as advised by MCAP to the Receiver; interest and costs continue to accrue; Receiver will conduct a security opinion of MCAP's security in due course (opinion pending, not yet confirmed). · page: 6 · as of: 2026-01-05 · amount: 15429766 · debtor: 0943151 B.C. Ltd. (registered owner/Nominee) and beneficial owner Debtors · creditor: MCAP Financial Corporation · currency: CAD · security: Mortgage and assignment of rents, charge nos. CB391708/CB391709 registered 2022-12-15, pursuant to loan agreement dated October 31, 2022, as amended
- secured creditorsnote: Registered mortgage amount per Land Title search; not stated as a current outstanding balance. · page: 6 · amount: 5333384 · debtor: 0943151 B.C. Ltd. (Nominee) · creditor: Tokio Marine Canada Ltd. · currency: CAD · security: Mortgage and assignment of rents, charge nos. CB400675/CB400676 registered 2022-12-21, pursuant to commitment letter dated November 7, 2022, as amended; secures bonds provided by Tokio Marine to the City of Surrey for a servicing agreement
- secured creditorsnote: Also holds Certificates of Pending Litigation on Lot 1 (CB2496667, 2025-12-01) and Lot 2 (CB2496667, 2025-12-04) with no separate charge amount. · page: 6 · as of: 2025-12-01 · amount: 620748.34 · debtor: Lot 1 and Lot 2 · creditor: Country Green Excavating Limited · currency: CAD · security: Claim of Builders Lien, charge CB2490015 (Lot 1) and CB2489780 (Lot 2), registered 2025-12-01
- unsecured creditorsnote: Document does not name individual unsecured creditors. · page: 6 · basis: According to the Debtors' books and records and the Receiver's correspondence with third party vendors · amount: 37000 · debtor: Maskeen 177 Projects Ltd., 0676086 B.C. Ltd., Maskeen Development Ltd., Maskeen Homes Ltd., 1302095 B.C. Ltd., and 0943151 B.C. Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorspage: 7 · as of: 2025-11-18 · amount: 337323.41 · debtor: Lot 2 · creditor: Madness Forming & Construction Services Inc. · currency: CAD · security: Claim of Builders Lien, charge CB2461018, registered 2025-11-18
- secured creditorsnote: Separate lien from the Lot 1 registration above. · page: 7 · as of: 2026-01-14 · amount: 50779.28 · debtor: Lot 2 · creditor: NorthCoast Building Products Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2565598, registered 2026-01-14
- secured creditorsnote: Also registered a Certificate of Pending Litigation under assumed name ISC Shoring & Civil Ltd. (charge CB2446009, registered 2025-11-10); no charge amount for that registration. · page: 7 · as of: 2025-07-09 · amount: 390128.74 · debtor: Lot 2 · creditor: Integrity Shoring & Civil Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2163795, registered 2025-07-09
- secured creditorspage: 7 · as of: 2025-11-06 · amount: 24329.8 · debtor: Lot 2 · creditor: NexGen Environmental Services Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2440755, registered 2025-11-06
- secured creditorspage: 7 · as of: 2025-11-20 · amount: 70810 · debtor: Lot 2 · creditor: PDQ Construction Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2466013, registered 2025-11-20
- secured creditorsnote: Also registered a Certificate of Pending Litigation (charge CB2666400, registered 2026-03-10); no charge amount for that registration. · page: 7 · as of: 2026-01-22 · amount: 51657.39 · debtor: Lot 2 · creditor: Yard at a Time Concrete Ltd. · currency: CAD · security: Claim of Builders Lien, charge CB2580701, registered 2026-01-22
- secured creditorsnote: Not a monetary lien; registered option interest with no stated charge amount. · page: 7 · as of: 2023-05-31 · debtor: Lot 2 · creditor: 1299615 B.C. Ltd. · currency: CAD · security: Option to Purchase, charge CB657544, registered 2023-05-31
- operational summaryThe Receiver's activities since the commencement of these proceedings have included corresponding with counsel, reviewing MCAP's receivership application materials, corresponding with the Debtors, reviewing financials and development information, engaging a third-party contractor to secure and monitor the Real Property, corresponding with contractors for engineering, surveying, property maintenance and security services, opening a receivership bank account, paying expenses, preparing a request for proposals to select a realtor, reviewing realtor proposals, negotiating the Listing Agreement with the Broker, corresponding with the tenant on Lot 4, and drafting the Notice and Statement of the Receiver pursuant to Sections 245(1) and 246(1) of the BIA.
- sale advisorColliers Macaulay Nicolls Inc.
- sale outcometext: Receiver recommends the Court approve the Sale Process and retention of the Broker to market the Real Property · scope: whole_business · status: process_approved