British Columbia · Receivership (court-appointed)
Order Made After Application
Application / notice of application · 17 December 2024
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
- applicantRoyal Bank of Canada
- commencement date16 December 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noFOS-S-S-26758
- provinceBritish Columbia
- secured creditorsnote: Outstanding balance as at Dec 16, 2024 per court order declaring default; costs on solicitor own client/special costs basis also awarded. · page: 2 · as of: 2024-12-16 · amount: 902297.61 · debtor: G-T-X Cavating Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: First mortgage charge (Indenture of Mortgage and Assignment of Rents dated Nov 23, 2017, registered Nov 28, 2017 under Charge Nos. CA6471120/CA6471121) over the Lands and Premises; principal amount $875,000.00, interest at Prime + 5.00% per annum (currently $119.86/diem), calculated monthly, not in advance
- secured creditorsnote: Personal guarantees by individuals (guarantor judgment); execution stayed. Individual names: Kyle William Douglas Turner, Dana Irene Turner. · page: 3 · as of: 2024-12-16 · amount: 759267.91 · debtor: Kyle William Douglas Turner and Dana Irene Turner (personal guarantors) · creditor: Royal Bank of Canada · currency: CAD · security: Personal guarantee - judgment registrable against real property owned by guarantors; execution stayed pending completion of receivership and ascertainment of shortfall
- secured creditorsnote: Total judgment recovered against G-T-X as at Dec 16, 2024, combining amounts secured under the Mortgage and the GSA Equitable Mortgage; separate mortgage-specific balance of $902,297.61 also stated (see other entry). · page: 3 · as of: 2024-12-16 · amount: 1274257.3 · debtor: G-T-X Cavating Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: GSA Equitable Mortgage (General Security Agreement - Floating Charge on Land dated Nov 23, 2017; PPSA registration Nov 8, 2017 Base Reg. No. 389158K; crystallized floating charge registered Oct 7, 2024 Charge No. CB1638222) - second mortgage charge on Lands and Premises and first charge on all existing and after-acquired personal property of G-T-X
- presiding officerJustice Weatherill