BC Insolvency &
Receivership News
Tracking court-ordered sales, receiverships, and insolvency developments across British Columbia.
Bank of Canada · 2026 Schedule
Interest Rate Tracker
Next Announcement
April 29
in 6 days
Rate decision published with the quarterly Monetary Policy Report — a ~40-page analysis of the economy, inflation, and rate outlook.
Policy Rate · Last 18 mo → Year End 2026
June 10
Upcoming
September 2
Upcoming
December 9
Upcoming
Source: Bank of Canada
Statistics Canada · Fraser Valley
Regional Indicators
480K
Total Acres of Land
1.03M
Population of the Fraser Valley
7.7%
Avg Population Increase Yr/Yr
4.9%
Unemployment Rate
Source: Statistics Canada · Fraser Valley Regional District
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.
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.
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.
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.
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.
Langley Development Project Placed Into Receivership
FTI Consulting was appointed receiver over Maskeen (Carvolth) Limited Partnership in Langley, BC, on application by National Bank of Canada, owed approximately $11 million.
Why Courts Take Bad Faith Seriously: VK Group Decision
MLT Aikins lawyers analyze the VK Group decision where the BC Supreme Court terminated CCAA protection after finding bad faith fund diversions.
CCAA Stay Rejected, Receiver Appointed Over BC Trucking Companies
The BC Supreme Court rejected the VK Group CCAA stay and appointed MNP Ltd. as receiver after insufficient restructuring progress over ten months.
Square Nine Wins CCAA Protection After Competing Lender Receivership Push
Square Nine obtained CCAA protection for the Belvedere — a 30-storey, 275-unit residential tower in Surrey. The company owes approximately $22.2 million to secured lenders.
PwC Takes Control of Surrey and Abbotsford Supermarkets
PwC was appointed receiver over seven related grocery and real estate entities in Greater Vancouver. National Bank of Canada, owed over $25 million, sought receivership.
Hotel Property Sold in a Rare Court-Ordered Live Auction
Dentons lawyers analyze a BC Supreme Court decision ordering a rare live auction for a 100-room hotel in receivership. The process generated $3.5 million more than previous offers.
TC Evolution Victoria Project Placed Into Receivership
MNP Ltd. was appointed receiver over TC Evolution developing a Douglas Street office property in Victoria, on application by Timbercreek Mortgage Servicing owed approximately $41.1 million.
Keltic Nexus Development Falls Into Receivership
FTI Consulting was appointed receiver over Keltic Nexus project at 220 Prior Street in Vancouver — a 10-storey mixed-use complex 79% complete. Shape Capital Corp. owed approximately $62 million.
Coast Automotive Group Inc. et al., CCAA
Coast Automotive operating two dealerships in North Vancouver obtained CCAA protection. BMO owed approximately $36.2 million.
Oak and Fort Corp. et al., CCAA
Vancouver fashion retailer Oak + Fort operating 42 locations transitioned to CCAA protection amid aggressive retail expansion shortfalls.
Mercy Falls BC Inc., CCAA
BC production company filming a novel adaptation filed for CCAA protection after the studio failed to deliver US$9 million in committed financing.
Beta View Homes and Lumina Eclipse, CCAA
Two Burnaby developers tied to Thind Properties obtained CCAA protection for the Eclipse Brentwood project — a 34-storey tower. KingSett Mortgage Corporation owed roughly $189.2 million.
Central City Brewers and Distillers Ltd., CCAA
Surrey-based Central City Brewers (Red Racer) obtained CCAA protection carrying approximately $63.2 million in liabilities after pandemic impacts.
KS Property Management Inc., Receivership
KS Property Management owning 16 bare strata lots in Osprey Landing was placed in receivership. Approximately $2 million in shareholder loans disappeared.
Bear Mountain Adventures Ltd., Receivership
Bear Mountain Resort near Victoria including two golf courses entered receivership. Alvarez & Marsal was appointed receiver over deadlocked partnerships.
3000 Henry Street Limited Partnership, Receivership
Port Moody properties designated for a 173-unit condo development entered receivership. KingSett held mortgage debt exceeding $13.5 million.
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