British Columbia · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 25 June 2026
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What we verified from this filing16 verified
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noH250150
- commencement date13 February 2025
- cash on handnote: R&D table separately shows Cash on Hand of $1,578 thousand ($1,578,000) as at the same date. · as at: 2026-06-18 · amount: 1600000 · currency: CAD · qualifier: approximately
- closing confirmedscope: Commercial Units 1 and 2 · outcome: completed · purchaser: 7D Holdings Ltd. · date basis: unstated; scope: nineteen Residential Units · outcome: completed · date basis: unstated
- disbursementsnote: Figures reported in CAD thousands in the Interim Statement of Receipts and Disbursements. · since: Receivership Date (February 28, 2025) · amount: 32791000 · currency: CAD
- operational summaryThe Receiver continues to market and sell the Debtors' remaining unsold residential and commercial strata units at the Chloe development, overseeing construction/deficiency work while pursuing a revised pricing strategy for residential units and an en-bloc sale of the remaining commercial units.
- process resultsbids: 12 · note: 1 offer accepted but buyer unable to satisfy/waive conditions; 4 offers withdrawn and resubmitted; 6 offers rejected; 1 offer accepted resulting in Commercial Purchase Agreement
- professional feesnote: Total of $1,800,000 includes fees ($1,636,000), disbursements ($36,000) and taxes ($127,000); FTI's own fees, disbursements and taxes totaled $1,059,000 and McCarthy Tétrault's totaled $741,000. · party: Receiver (FTI Consulting Canada Inc.) and Receiver's Counsel (McCarthy Tétrault LLP) · amount: 1800000 · period: Receivership Date (February 28, 2025) to June 18, 2026 · currency: CAD
- purchaserInni Home (Real Estate) Ltd.; 7D Holdings Ltd.
- receipts cumulativenote: Figures reported in CAD thousands in the Interim Statement of Receipts and Disbursements. · since: Receivership Date (February 28, 2025) · amount: 34370000 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: | Distribution to Secured Creditors | (27,800) | · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 27800000 · amount high: 27800000 · class label: National Bank of Canada · creditor name: National Bank of Canada · interim final: unstated · related party: false · currency quote: CAD Thousands · claims qualifier: unstated · stated on: 2026-06-25 · table missing:
- report date25 June 2026
- report noThird Report
- sale advisorMarcus & Millichap REIS Canada Inc.; Exclusive Vancouver Real Estate Group
- sale outcometext: Commercial Purchase Agreement with Inni Home (Real Estate) Ltd. for the remaining Commercial Units, pending court approval; Residential Units and initial Commercial Units already sold · scope: parcel · status: pending_approval