British Columbia · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 4 November 2025
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 filing4 verified
- secured creditorsnote: Senior secured lender; approximate figure stated as 'approximately $7.5 million plus accrued interest and legal costs' · page: 4 · as of: Receivership Date (October 3, 2024) · amount: 7500000 · debtor: By the Bay Home Development Ltd. · creditor: National Bank of Canada (NBC) · currency: CAD
- secured creditorsnote: Senior secured second lien lender; approximate figure stated as 'approximately $3.8 million'; had commenced foreclosure proceedings in Nov 2023 and obtained conduct of sale in Jan 2024, but proceedings stayed upon receivership · page: 4 · as of: Receivership Date (October 3, 2024) · amount: 3800000 · debtor: By the Bay Home Development Ltd. · creditor: Genesis Mortgage Investment Corp. · currency: CAD
- secured creditorsnote: Registered encumbrances to remain on title per Purchase Agreement Appendix A; not stated as monetary balances · page: 15 · debtor: By the Bay Home Development Ltd. · creditor: City of Vancouver · currency: CAD · security: Easement and Indemnity Agreement (CA9394162); Statutory Right of Way (CA9394165); Covenants (CA9833653, CA9833656, CA9833659, CA9833665, CA9833668, CA9833671); Statutory Right of Way (CA9833662)
- secured creditorsnote: Registered encumbrance to remain on title per Purchase Agreement Appendix A; not stated as a monetary balance · page: 15 · debtor: By the Bay Home Development Ltd. · creditor: British Columbia Housing Management Commission · currency: CAD · security: Covenant (CB79455)