Proceedings.

1281805 B.C. Ltd.

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Active
Proceeding
NOIBIA s. 50.4
Court
Supreme Court of British Columbia
File
VLC-S-B-260250
Filings held23
Last activity18 Sep 2026
On the record179 days
Secured debt$10.2M
OverviewSummary updated

1281805 B.C. Ltd. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on March 26, 2026, in British Columbia, and the proceeding remains active. On April 20, 2026 the Court approved a DIP facility from Envision Financial, the company's existing mortgage lender over the Everwood property, with a total limit of $2.4 million; draws to date total $2,066,327, with a further $333,673 forecast per the Third Cash Flow Forecast running to September 2026. Twenty creditors filed proofs of claim supported by registered liens or identified by the company as lien registrants, totalling $2,176,640, of which $2,101,988 was accepted on an unsecured basis, secured status having been disallowed by notice of revision or disallowance pending valuation of the assets. Envision's mortgage security is under review by independent legal counsel, and the company intends to apply surplus sale proceeds to reduce the mortgage balance.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Claims Procedure Order dated 27 April 2026.

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Case updates24 dated entries
#Report

Fifth Report of the Proposal Trustee: recorded cumulative receipts since the notice of intention of $9,569,830, being $9,549,907 of net unit sales proceeds and $19,922 of interest.

Source: Fifth Report of the Proposal Trustee

#Report

Fourth Report of the Proposal Trustee: construction is winding down with one Phase I unit left to close, approximately $6,250,000 was held at September 2, 2026, and a further stay extension is sought to prepare a proposal.

Source: Fourth Report of the Proposal Trustee

#Report

Second Report of the Proposal Trustee: with the $2.4 million DIP facility in place, the company re-engaged trade contractors to complete the Phase I townhomes at Everwood while sales continued; it held no cash at May 29, 2026.

Source: Second Report of the Proposal Trustee

#Claims

By order of April 20, 2026 the court approved a DIP facility of up to $2.4 million from Envision Financial, the company's existing mortgage lender.

Source: Claims Procedure Order

#Filing

1281805 B.C. Ltd. — NOI filed, British Columbia.

AnalysisAll insights⁠

Case update

Everwood: ten townhomes sold, a DIP repaid, and a proposal resting on Phase 2

In five months under a notice of intention, 1281805 B.C. Ltd. finished and sold the last ten first-phase townhomes at Everwood in Maple Ridge, repaid its $2.4 million Envision DIP on August 26 and now holds about $6.25 million, and it asks for time to September 25 to file a proposal its trustee says is contingent on building and selling Phase 2.

Parties

Debtor

1281805 B.C. Ltd.

Proposal trustee

FTI

Bench and counselPer the orders and service lists on the record

Counsel of record

PartyCounselFirst seenSource
Applicant1281805 B.C. Ltd.McEwan Cooper Kirkpatrick LLP18 Sep 2026Order · 18 Sep 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale
Priority classCreditorAmountSource
SecuredEnvision Financial (Division of First West Credit Union) · in 2 casesCompany's first (senior) secured lender per para 45; security instrument not detailed in these pages. — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$10.2MFirst Report of the Proposal Trustee
SecuredAmar Exteriors Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$357KFirst Report of the Proposal Trustee
Secured1383604 B.C. Ltd. o/a Taiga LandscapingConstruction lien registered against title to Everwood lands — Trade supplier lien claimant; some amounts believed by Company to exceed what is due (para 39). — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$343KFirst Report of the Proposal Trustee
SecuredDick's Lumber · in 5 casesConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$190KFirst Report of the Proposal Trustee
SecuredDiamond Cabinets Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$179KFirst Report of the Proposal Trustee
SecuredBoyal Enterprises Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$148KFirst Report of the Proposal Trustee
SecuredActive Doors & Mouldings Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$94.9KFirst Report of the Proposal Trustee
SecuredWest Harbour ElectricConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$89.1KFirst Report of the Proposal Trustee
SecuredCP Painting Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$87.3KFirst Report of the Proposal Trustee
SecuredFast Frost Heating & AC Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$86.1KFirst Report of the Proposal Trustee
SecuredParagon Rebar and Damp Proofing (2010) Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$80.8KFirst Report of the Proposal Trustee
SecuredM&N Drywall Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$73.5KFirst Report of the Proposal Trustee
SecuredLucky Tiles Ltd. · in 2 casesConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$54.8KFirst Report of the Proposal Trustee
SecuredMillwood Finishing Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$47.4KFirst Report of the Proposal Trustee
SecuredFibretech Distributors Inc. · in 2 casesConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$41.4KFirst Report of the Proposal Trustee
SecuredOmax Concrete and Pumping Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$36.7KFirst Report of the Proposal Trustee
SecuredBucks Garage Doors Ltd.Construction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$31.7KFirst Report of the Proposal Trustee
SecuredS & B Janitorial ServicesConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$16.3KFirst Report of the Proposal Trustee
SecuredSecuriforce Security Services Ltd. · in 2 casesConstruction lien registered against title to Everwood lands — debtor: 1281805 B.C. Ltd. · as of 26 Mar 2026$13.3KFirst Report of the Proposal Trustee
Estate financialsReported figures — never derived

Cumulative receipts

$9.57M

As at 16 Sep 2026Fifth Report of the Proposal Trustee

Cash on hand

$6.25M

As at 3 Sep 2026Fourth Report of the Proposal Trustee

Professional fees to date

$273K

As at 3 Sep 2026Fourth Report of the Proposal Trustee

Documents
23 filings
DateDocumentFile
Order (Interim Financing and Distribution)
  • Counsel McEwan Cooper Kirkpatrick LLP
PDF
Affidavit #5 of Talbir MannPDF
Fifth Report of the Proposal Trustee
  • Operational summary The Company is completing construction and closing sales of Phase 1 units at the Everwood development, retains three unsold Phase 2 units nearing completion, and is planning to commence Phase 3 excavation funded by a new DIP loan.
  • Receipts cumulative $9.57M · Note: Comprises Net Unit Sales Proceeds of $9,549,907 and Interest of $19,922 · Since: filing of the NOI
  • Report date 16 September 2026
  • Report no Fifth Report
PDF
Affidavit #4 of Talbir MannPDF
Fourth Report of the Proposal Trustee
  • Cash on hand $6.25M · Note: Combined balance held by the Proposal Trustee and the Company; of this, approximately $127,000 is held in the Company's accounts per para 30. · As at: 2026-09-02 · Qualifier: approximately
  • Operational summary The Company is winding down construction and completing the sale of its remaining Phase I residential units, with only one unit left to close, and is seeking a stay extension to allow time to finalize sales and prepare a proposal to creditors.
  • Professional fees $273K · Note: Reported as a single 'Restructuring Professional Fees' line item in the receipts and disbursements summary; not broken out by individual professional. An additional $100,000 is forecast for the period to September 25, 2026. · Party: Restructuring professionals (aggregate, including Proposal Trustee and counsel) · Period: since commencement of proceedings to August 28, 2026
  • Receipts cumulative $64.8K · Since: commencement of these proceedings
  • + 2 more extracted facts
PDF
Notice of ApplicationPDF
Order (Extension of Time)
  • Order date 24 July 2026
  • Stay extended to 4 September 2026
PDF
Third Report of the Proposal Trustee
  • Secured creditors Note: 20 creditors filed proofs of claim with evidence of registered lien or identified by Company as having filed a lien; secured status disallowed via NoRD pending valuation of assets (disputed/bifurcated secured status). Value of claims received from this class totaled $2,176,640; value of claims accepted $2,101,988 (unsecured basis pending valuation). · Page: 10 · As of: Claims Bar Date · Debtor: 1281805 B.C. Ltd. · Creditor: Lien Creditors (construction contractors - PPSA/lien registrants) · Currency: CAD · Security: Registered liens/encumbrances against Everwood property
PDF
Application Record Index
  • Applicant 1281805 B.C. Ltd.
  • Commencement date 22 July 2026
  • Court Supreme Court of British Columbia
  • Province British Columbia
PDF
Notice of Application (Extension of Time and Vesting Orders)
  • Applicant 1281805 BC Ltd.
  • Commencement date 26 March 2026
  • Court IN THE SUPREME COURT OF BRITISH COLUMBIA
  • Court file no VLC-S-B-260250
  • + 2 more extracted facts
PDF
Second Report of the Proposal Trustee
  • Cash on hand $0 · Note: The Proposal Trustee states the Company held no cash as at this date and expected to request an additional DIP advance. · As at: 2026-05-29
  • Operational summary The Company, having secured a $2.4 million DIP facility, has re-engaged trade contractors and is using the funding to complete construction of the Phase I townhome units at Everwood, while continuing sales and marketing efforts through Breakside Real Estate Group.
  • Professional fees $110K · Note: Listed under 'Restructuring Professional Fees' in the actual receipts and disbursements summary; forecast was $40,000, a variance of (175)%. · Party: Restructuring professionals (Non-Operating Disbursements category) · Period: Week 1-5, May 2026 (since commencement of NOI proceedings)
  • Receipts cumulative $2.9K · Note: Total Receipts consisted solely of opening Cash on Hand of $2,898. · Since: commencement of these proceedings (NOI filing, March 26, 2026)
  • + 2 more extracted facts
PDF
Service ListPDF
Claims Procedure Order
  • Order date 20 April 2026
PDF
Schedule "A" - Instruction LetterPDF
Schedule "B" - Notice to ClaimantsPDF
Schedule "C" - Proof of Claim FormPDF
Schedule "D" - Notice of Revision or DisallowancePDF
Affidavit No.1 of Talbir Mann
  • Secured creditors $7.02M · Note: Phase 1 Credit Facility, offer of credit dated June 23, 2023 (original facility/loan amount $18,150,000); monthly interest approx. $34,756.35; secured also by personal guarantees/environmental indemnity agreements from individual indemnitors Talbir Mann, Lawrence Kwok Leung Chan, Adrian Phillipe Chan, Harry Ma and Dennis Tin Tsi Jung · Page: 2 · As of: 2026-03-31 · Debtor: 1281805 B.C. Ltd. (the Company), together with Wood Lock Developments Ltd. and 1281826 B.C. Ltd. as co-borrowers · Creditor: Envision Financial, a division of First West Credit Union · Security: CreditMaster Mortgage and Assignment of Rents - first fixed charge over the Everwood Lands (23697 Fern Crescent, Maple Ridge); Commercial Security Agreements creating first ranking security interest in all present and after-acquired property of the Borrower, 1281826 BC Ltd, Wood Lock Developments Ltd and 1280805 BC Ltd; general security agreements from corporate indemnitors Hello Holdings Ltd, Black Vintage Media Inc., Simple Multi Media Solutions Inc., and Advanced Marketing Solutions Inc.; Commercial Security Agreement - Goods/Specific assigning $2,664,237 interest reserve term deposit
PDF
Affidavit No.2 of Talbir MannPDF
First Report of the Proposal Trustee
  • Secured creditors $94.9K · Page: 12 · As of: 2026-03-26 · Debtor: 1281805 B.C. Ltd. · Creditor: Active Doors & Mouldings Ltd. · Security: Construction lien registered against title to Everwood lands
PDF
Order (Claims Process)PDF
Order (DIP Financing)PDF
1281805 B.C. Ltd. Notice of NOI with List of CreditorsPDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “1281805 B.C. Ltd.” (NOI), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/1281805-b-c-ltd

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/1281805-b-c-ltd

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.