1034786 B.C. Ltd. (formerly Inspira Development (Insignia) Ltd.), Receivership

1034786 B.C. Ltd. (formerly Inspira Development (Insignia) Ltd.), a Surrey, British Columbia-based real estate developer, was placed into receivership on April 11 on application by CMLS Financial, owed approximately $16 million.

The company was working on the East Clayton project in the lower mainland, a large-scale urban development focused on sustainable and walkable neighborhoods. 

1294049 B.C. Ltd., the second secured creditor, is owed approximately $6 million.

EY is the receiver.

Counsel is Fasken for CMLS; Helen Sevenoaks for the company; Nathanson, Schachter & Thompson for Chase Allen; and Reedman Law for 1294049 B.C. Ltd.