Court appoints receiver over Westbank-linked downtown Vancouver rental project
OtherCanada
A judge appointed MNP as receiver on Nov. 4 over a proposed purpose-built rental development in downtown Vancouver held by 700 Bidwell Holdings, on the application of lender BMO, Insolvency Insider Canada reported. BMO says it is owed more than $36 million plus interest and alleges interest has gone unpaid since at least September 2025, and Westbank Holdings gave an unlimited guarantee on the debt. The receiver's power to sell is deferred to Feb. 13, 2027, giving the borrowers time to refinance or sell while they keep operating the site's two existing rental buildings.
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