Recent News / 20 April 2010

20 April 2010
Pointe of View Developments (Squamish) Inc. (The "Company") - Receivership

On July 21, 2009, in an effort to restructure the business, the Company obtained a stay of proceedings under the Companies' Creditors Arrangement Act ("CCAA"). The Bowra Group Inc. was appointed Monitor of the Company under the CCAA proceedings. The Court granted extensions of the stay of proceedings under the CCAA until December 8, 2009, when the proceedings under the CCAA were terminated and a Receiver was appointed.

On December 8, 2009, The Bowra Group Inc. was appointed Receiver Manager ("Receiver") of the assets, undertakings and properties of Pointe of View Developments (Squamish) Inc., Squamish Pointe Limited Partnership, No. 249 Seabright Holdings Ltd., and Bel-Tar Holdings Ltd., pursuant to an Order of the Supreme Court of British Columbia.

The Receiver has secured $21M in funding to complete construction of phases two and three of the development. Construction of phases two and three has commenced in April 2010.

Court Orders
Court Order dated December 8, 2009   (876 KB)

Receiver Manager's Report
Receiver Manager's First Report to Court Dated April 16, 2010

For further information contact Derek Lai at 604 608 6242 or email dlai@bowragroup.com.