British Columbia · Receivership (court-appointed)
Second Report of the Court-appointed Receiver, filed November 7, 2025
Court officer report · 7 November 2025
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What we verified from this filing12 verified · 1 withheld
- cash on handnote: Net cash balance held by the Receiver per the Interim Statement of Receipts and Disbursements. · as at: 2025-09-22 · amount: 5754 · currency: CAD
- closing confirmedscope: the Lands (the Transaction contemplated by the Stalking Horse Bid) · outcome: not_completed · effective: 2025-07-17 · date basis: stated · approval order date: 2024-11-20
- disbursementsnote: Approximate total disbursements including $270,000 property taxes, $10,500 insurance, and $6,907 repairs/maintenance/snow clearance. · since: Date of Receivership (November 7, 2024) · amount: 289246 · currency: CAD
- operational summaryFollowing the Purchaser's default and repudiation of the amended Stalking Horse Bid, the Transaction was terminated and the Receiver has re-listed the Lands for sale through Colliers, with marketing efforts ongoing as of the report date.
- process resultsnote: No Qualified Bids other than the Stalking Horse Bid were received before the Bid Deadline · as of: 2024-12-16 · qualified bids: 0
- professional feesnote: Amount is inclusive of taxes (GST/PST) and represents the portion of the $200,000 retainer applied to date; retainer breakdown shows Receiver's fees $59,850 and legal fees $79,392. · party: Receiver (Deloitte Restructuring Inc.) and its legal counsel (Lawson) · amount: 151648 · period: Date of Receivership to September 22, 2025 · currency: CAD
- purchaserprice: note: Stalking Horse Bid price, increased from Original Offer of $32,000,000 · basis: cash · amount: 32576612 · sealed: false · currency: CAD · scope: the Lands and all buildings, structures and improvements thereon · status: terminated · name note: referred to only as 'the Purchaser'; related party to Jin-Ocean · structure: shares · name source: recital · relationship: related_party · agreement date: 2024-11-15
- receipts cumulativenote: Includes $270,000 Property Tax Payments from the Purchaser and $15,000 from the Borrowing Facility, per the Interim SRD covering November 7, 2024 to September 22, 2025. · since: Date of Receivership (November 7, 2024) · amount: 295000 · currency: CAD
- report date9 October 2025
- report noSecond Report
- sale advisorColliers Macaulay Nicholls Inc.
- stalking horsestate: stated · amount: 32576612 · currency: CAD · is lender: false
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.