British Columbia · Receivership (court-appointed)
Second Report of the Receiver (August 15, 2025)
Court officer report · 15 August 2025
What we verified from this filing5 verified
- closing confirmedscope: the Hillcrest Property · outcome: completed · date basis: unstated · approval order date: 2025-06-11
- purchaserprice: sealed: false · scope: the Hillcrest Property · status: closed · name note: purchaser of the Hillcrest Property, unnamed · structure: real_property · name source: recital · relationship: unstated; Bonhams
- recovery outcomeentries: basis: estimated · quote: 136. The Receiver estimates that the first secured creditor will suffer a shortfall of between $1.3 million and $3 million on their loan of approximately $10 million. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · amount low: 1300000 · amount high: 3000000 · class label: first secured creditor, CIBC · claims amount: 10000000 · creditor name: CIBC · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: estimated; basis: estimated · quote: 145. Based on current information, the Receiver anticipates a shortfall to the first-ranking secured creditor, CIBC of between $1.3 million and $3 million, and, as such, no recovery is expected for any other creditors. · pct of: unstated · outcome: nil · stated by: receiver · class label: any other creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-08-15 · table missing: 137. The following table is a summary of the estimated recovery to the first secured creditor.
- sale advisorBonhams; Silverman Consulting & Retail Services
- sale outcometext: Approval sought for sale of inventory and Bonhams auction of select items, with the Hillcrest Property sale already closed · scope: liquidation · status: liquidation_in_progress