May 26, 2020
Eagle Q Partners Inc., a Vancouver, British Columbia-based company founded by Chris Jin, was placed in receivership on May 26 on application by Hong Liu and Meng Rui Li. The applicants allege that it is unclear what the company's business is other than having advanced considerable sums of money to the Westside Preparatory School (the "School"). Both the company and Jin, a former director of the Westside Preparatory Society — the not-for-profit society which governs the School — have been the subjects of various lawsuits, including an action against Jin alleging fraud, deceit, and fraudulent misrepresentation. These civil actions and the company's mismanagement have caused operating problems for the School, which owes the company approximately $4.1 million. In light of such circumstances, it appears the assets over which the applicants have security are at risk of being dissipated. Multiple actions have been commenced by the company's creditors and the applicants allege that Jin appears to be taking steps which may compromise the company's assets. FTI was appointed receiver. Fasken is counsel to the applicants.