BC Insolvency &
Receivership News

Real Estate & Development|Court DecisionsJune 16, 2026

Mortise Group's Scott Plaza Retail Centre In Surrey Sold For $21.5M In Receivership Sale

The Scott Plaza retail centre in Surrey, owned by Mortise Group, was sold for $21.5 million following a receivership sale initiated by a non-bank lender. The property, located at 8140 120 Street, spans 3.1 acres and has been noted for its potential residential zoning, although no development applications have been submitted. The receivership process was documented in the Supreme Court of British Columbia.

Howard Chai

Real Estate & Development|Court DecisionsJune 8, 2026

Court-ordered sales are reshaping Lower Mainland's troubled housing market

Court-ordered sales are significantly impacting the Lower Mainland's housing market, as developers like NorthStar Developments acquire stalled projects at reduced prices. This trend is seen as a potential opportunity to increase affordability in the region, with new developments being planned to address local housing needs.

Mihika Agarwal

Real Estate & Development|Court DecisionsMay 8, 2026

OPTrust Places Westbank's Joyce II Rental Tower In Vancouver Under Receivership

The Joyce II rental tower, located at 5083 Joyce Street in Vancouver and developed by Westbank, has been placed under receivership following a court application by OPTrust. This 35-storey project, which is nearly completed and consists of 360 rental units, aims to add affordable housing to the community and is currently under the supervision of a court-appointed receiver to ensure its completion.

Howard Chai

Real Estate & DevelopmentApril 30, 2026

StreetSide Proposing 35-Storey Condo Tower, 6-Storey Rental In Burquitlam

StreetSide Developments is proposing a new 35-storey condo tower and a 6-storey rental building in the Burquitlam neighborhood of Coquitlam, British Columbia. The project involves a land assembly of multiple single-family lots, which was acquired for over $20 million, and is currently under a rezoning application to allow for the new development. The proposed development will consist of 339 strata units and 61 rental units.

StreetSide Developments

Real Estate & Development|Court DecisionsApril 9, 2026

Maskeen Faces Receivership On Multi-Phase Surrey Project, 39-Storey Langley Tower

Maskeen, a Surrey-based developer, is facing receivership on two significant real estate projects in British Columbia, including a multi-phase development in Surrey and a 39-storey tower in Langley. The Victory project in Surrey involves plans for three low-rise buildings with 216 units, while the Langley project includes a high-rise with 331 units and additional commercial space. Both projects are now under receivership following insolvency proceedings filed in the Supreme Court of British Columbia.

Storeys

Real Estate & Development|Court DecisionsMarch 20, 2026

City Of Surrey Buys TOA Development Site Out Of Foreclosure For $5.2M

The City of Surrey has purchased a development site located at 8286 161 Street out of foreclosure for $5.2 million. The property, previously owned by Quarry Rock Developments, was acquired following a court-approved sale process due to outstanding debts. The City plans to convert the site into a community park, despite its designation as a transit-oriented area.

Howard Chai

Real Estate & Development|Court DecisionsMarch 11, 2026

Wave Developments Facing Insolvency On Two Vancouver Projects, Owes $100M

Wave Developments is facing insolvency on two Vancouver projects, The Fifteen and Chroma, which are now subject to foreclosure and receivership proceedings in the Supreme Court of British Columbia. The company owes approximately $100 million and has defaulted on its mortgage obligations, leading to court-ordered sales processes for the properties. Both projects have completed construction and are located in Vancouver.

Howard Chai

Real Estate & Development|Court DecisionsMarch 4, 2026

Everest Group Facing Foreclosure On 24-Storey Centra Project In Surrey, Owes $44M

Everest Group is facing foreclosure on its 24-storey Centra project in Surrey, which has been delayed for several years. The project, legally owned by 1119356 B.C. LTD. and beneficially owned by Everest Group, has accrued significant debt and liens, leading to a court-ordered foreclosure initiated in December 2025.

Howard Chai

Court DecisionsJanuary 30, 2026

Unearned Insurance Premiums: When PPSA Registration Is Not Enough

McMillan lawyers explain the BC Supreme Court confirmed a PPSA registration alone will not protect a lender claim to unearned insurance premiums.

Darcy Ammerman & Spencer Klug

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This page aggregates publicly reported insolvency, receivership, and court-ordered real estate news from third-party sources, with article summaries written by AI for brevity. It is provided for informational purposes only and does not constitute real estate, legal, financial, or investment advice. Verify all details with the original source before acting. For specific transaction guidance, consult a licensed real estate professional.

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