Mortise (Scott Road Residential) Holdings Ltd. et al., Receivership

Mortise (Scott Road Residential) Holdings Ltd. et al., a group of companies that develop real estate across the Lower Mainland of Vancouver, British Columbia, were placed into receivership on July 25 on application by Institutional Mortgage Capital Inc. as general partner of IMC Limited Partnership (“IMC”), owed approximately $19.7 million.

The companies own the lands located at 8140 120th Street, Surrey, British Columbia, a strip mall known as "Scott Road Centre" comprised of retail, office and restaurant tenants.

IMC initially advanced the loan in 2022. The companies have defaulted on the loan and a subsequent forbearance agreement, including by failing to repay the loan when due and failing to make the required payments under the forbearance agreement.

A&M is the receiver.

Counsel is Lawson Lundell for IMC.