British Columbia · Receivership (court-appointed)
First Report of the Receiver dated August 31, 2026
Court officer report · 31 August 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 is approximate as advised by IMC ('owed approximately $79 million'); interest and costs continue to accrue. Loan insured by CMHC. Title search dated August 25, 2026 confirms IMC is the only party with a registered financial charge against the Real Property. Loan guaranteed by Feather Wave Holdings Ltd., MHHLM Holdings Ltd., Oceanpeak Enterprise Inc., Momenta Properties Inc., Yulead Holdings Ltd., 1183715 B.C. Ltd., 1194904 B.C. Ltd. and personal guarantees by individuals Shao Ming Yang, Zheng Yu Huang and Tian Tony Zhao pursuant to guarantee dated May 27, 2025 (personal guarantors - individuals not named as companies). Receiver intends to obtain independent legal opinion from Osler regarding validity/enforceability of security (opinion pending). · page: 7 · as of: 2026-07-31 · amount: 79000000 · debtor: 31519 Investments Ltd. / 31519 East 2nd Limited Partnership / 31519 GP Ltd. · creditor: Institutional Mortgage Capital Canada Inc. (as general partner of IMC Limited Partnership) · currency: CAD · security: Mortgage registered May 29, 2025 (registration no. CB2070452); assignment of rents (registration no. CB2070453); beneficial owner agreement dated May 27, 2025 creating equitable mortgage; site-specific general security agreement dated May 27, 2025; assignment of contracts, deposits, permits and plans dated May 27, 2025; assignment of insurance proceeds dated May 27, 2025
- unsecured creditorsnote: Document names no individual creditors. · page: 7 · as of: Receivership Order date (March 30, 2026) · basis: Based on the Debtors' books and records · amount: 58800 · debtor: 31519 Investments Ltd. / 31519 East 2nd Limited Partnership / 31519 GP Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD