TLC’s Board of Directors believe in what TLC has accomplished in its 18 year history and are committed to finding a way to make sure that the work of TLC, the only large membership based land trust in B.C., will go on. Here you’ll find the latest updates to keep you informed on what’s happening with TLC.
After exploring every option available under existing conditions to achieve our larger organizational goals, on October 7, 2013, TLC filed for protection under the Companies Creditors Arrangement Act (CCAA) to definitively resolve the organization’s long-standing financial problems. Under CCAA, TLC is working with land consultants to assess all properties and develop a plan consistent with TLC’s conservancy mandate and its objective to repay creditors to the greatest extent possible.
The CCAA process is conducted under the review of an independent, Court appointed Monitor and under the supervision of a judge of the Supreme Court of British Columbia.
Creditor Claims Process
The Court appointed Monitor, Wolrige Mahon Limited, has begun the court approved process to determine the nature and quantum of the claims against TLC to facilitate a future distribution of monies realized from TLC’s assests. As part of this process, each person with a claim against TLC must prove their claim to the Monitor. For details on the claims process please visit the Monitor’s website wmltrustees.com.
The necessary forms were to be completed and returned to the Monitor by April 25, 2014, to participate in a distribution of funds from the assets of TLC.
On February 23, 2015, the Court issued a Meeting and Process Order, confirming that TLC was to convene a meeting of creditors to consider the Plan of Arrangement on March 30, 2015. Each of the creditor classes set out in the Plan, being the secured creditor class and the unsecured creditor class, have voted in favour of acceptance of the Plan (as filed and as set out in the Meeting and Process Order) by the requisite majorities.
Having received approval of the Plan from its creditors, TLC made its application to the Court on April 2, 2015, for a Sanction Order. The Supreme Court of B.C. approved the Plan of Arrangement as agreed upon by The Land Conservancy of B.C. (TLC) and its creditors.
Please direct any questions you may have regarding claims to Gord McMorran at (604) 684-6212.
Property Transactions and Payments
See TLC’s Plan of Arrangement for more details regarding the payment of creditors and the transfer of properties.
October 7, 2013 – April 1, 2015
· Sale of Keating Farm Estate to Georgios and Rebecca Papadopoulos, who plan to restore the farm house and work with tenant farmers to farm the land currently in the Agricultural Land Reserve (ALR). Completed
· Transfer of Eagle Bluff to South Okanagan Rehabiliation Centre for Owls (SORCO). Completed
· Sale of Development property in Sechelt. Completed
PHASE 1 OF PLAN OF ARRANGEMENT: April 2 – October 2, 2015
· Sale of 29% undivided interest in Maltby Lake to Woody and Carmel Thomson. The Thomsons, family of the original donor, wish to see the environmentally sensitive land protected. Completed
· Transfer of three parcels at the Sooke Potholes to the Capital Regional District. TLC’s parcels will become part of the CRD’s Sooke Potholes Regional Park. Completed
· Transfer of TLC’s 50% undivided interest in a Chemainus River property to the Cowichan Valley Regional District to create a riparian park. Completed
· Sale of Monks Point to the District of Tofino – under negotiation
· Sale of 28 properties to the Nature Conservancy of Canada and the Nature Trust of B.C.
· Transfer of Clearwater – under negotiation
· Sale of Ross Bay Villa to the Ross Bay Villa Society.
· Transfer of Hardy Mountain Doukhobour Village to the Regional District of Kootenay Boundary. A heritage bylaw has been passed by the Regional District, further protecting the site.
· Transfer of Qualicum Bat House to 2nd mortgage holder, 0793468 B.C. Ltd.
· Payment of 3rd Party Administrative Charges
· Payment of Debtor In Possession Loan
· Payment of Municipal Taxes
· Forgiveness of $1,075,000
· Payment of mortgage on Ross Bay Villa
· Payment of mortgage on Hardy Mountain
· Payment of mortgages on Abkhazi Gardens
· Payment of 1st mortgage on Qualicum Bat House
· Payment of mortgage on Horsefly River
· Payment of mortgage on Wycliffe/Luke Creek
· Payment of mortgage on Cowichan River
· Payment of mortgage on the Historic Joy Kogawa House
· First payment of unsecured claims
Judgments from the Court
On December 3, 2014, the Court of Appeal for BC issued a judgment regarding Binning House. View the Court of Appeal Decision.
On Thursday, May 15, 2014, Madam Justice Fitzpatrick issued an Order approving the sale of 5535 Shorncliff Avenue, Sechelt. View the Order.
On Thursday, March 27, 2014, Madam Justice Fitzpatrick issued an Order approving the sale of Eagle Bluff. View the Order.
On Friday, March 7, 2014, Madam Justice Gerow issued an Order approving the sale of Keating Farm Estate in Duncan. View the Order.
Wednesday, January 22, 2014, Madam Justice Fitzpatrick issued her reasons for decision on TLC’s application for Court approval of the proposed sale of Binning House.
Reports to the Court
For more details from the Monitor including court orders please visit Wolrige Mahon Limited’s website.
Monitor’s 14th Report to the Court, March 31, 2015.
Monitor’s 13th Report to the Court, February 19, 2015.
Monitor’s 12th Report to the Court, January 28, 2015.
Monitor’s 11th Report to the Court, December 12, 2014.
Monitor’s 10th Report to the Court, October 15, 2014.
Monitor’s 9th Report to the Court, June 19, 2014.
Monitor’s 8th Report to the Court , May 26, 2014.
Monitor’s 7th Report to the Court, May 12, 2014.
Monitor’s 6th Report to the Court, April 17, 2014.
Monitor’s 5th Report to the Court, February 27, 2014.
Monitor’s 4th Report to the Court, January 16, 2014.
Monitor’s 2nd Report to the Court, November 14, 2013.
Monitor’s 3rd Report to the Court, November 28, 2013.
Monitor’s 1st Report to the Court, October 30, 2013.
Frequently Asked Questions
View answers from the Board of Directors to frequently asked questions regarding the CCAA Process. For more details view TLC’s Media Backgrounder. For more details from the Monitor including court orders please visit Wolrige Mahon Limited’s website.
Previous Posts and Press Releases from the Board of Directors
Plan of Arrangement Approved by Creditors and Supreme Court of BC
TLC’s Plan of Arrangement Filed with Supreme Court of BC
The Land Conservancy of BC’s Eagle Bluff Sale Approved by the Supreme Court of BC
Keating Farm Estate Sale Approved by the Supreme Court of BC
The Land Conservancy of BC Appoints New Acting Chair and Vice-Chair to Board of Directors.
TLC Receives Extension of Protection Under Companies’ Creditors Arrangement Act (CCAA)
The Land Conservancy of BC Granted Protection Under Companies’ Creditors Arrangement Act (CCAA).
View the Court Order.
Recent Media Coverage
Wilson, Carla. “Deal paves way for reopening of Sooke Potholes campground.” Times Colonist. April 22, 2015.
“CRD gets Sooke Potholes campground.” Sooke News Mirror. April 21, 2015.
Bellaart, Darrell. “Wildwood property offer not accepted by TLC.” Nanaimo Daily News. April 14, 2015.
“Editorial: TLC is rising from the swamp.” Times Colonist. April 9, 2015.
“Society offers cash to keep Wildwood.” Nanaimo News Bulletin. April 9, 2015.
Wilson, Carla. “Society offers Land Conservancy $600,000 for Wildwood forest.” Times Colonist. April 8, 2015.
Know, Jack. “Park expansion has friends, but the kitty’s dry.” Times Colonist. April 4, 2015.
Wilson, Carla. “Land Conservancy plan wins court approval.” Times Colonist. April 3, 2015.
Wilson, Carla. “Land Conservancy creditors support plan to sell properties, cut debt.” Times Colonist. March 31, 2015.
“TLC back on solid ground after land deal.” CHEK. March 30, 2015.
Bainas, Lexi. “North Cowichan council nips idea of purchasing Wildwood Ecoforest.” The Citizen. March 27, 2015.
Yu, Carl. “Future of ecoforest uncertain.” Nanaimo News Bulletin. March 16, 2015.
“Fear for Wildwood’s future.” CHEK. March 8, 2015.
Bellaart, Darrell. “Effort on to block sale of Wilkinson’s Wildwood site.” Nanaimo Daily News. March 3, 2015.
Wilson, Carla. “Opposition grows against Land Conservancy push to sell properties.” Times Colonist. February 27, 2015.
CFAX 1070 with Frank Stanford, February 25, 2015.
CBC’s On The Island with Gregor Craigie, February 25, 2015.
Wilson, Carla. “Creditors to vote on Land Conservancy plan to shed $8M in debt.” Times Colonist. February 23, 2015.
Wilson, Carla. “TLC could get some relief from creditors.” Times Colonist. January 29, 2015.
Lazaruk, Susan. “B.C. family’s trust broken as charity bequest still unfulfilled several years after donation.” The Province. January 5, 2015.
To view more media coverage visit our Media Room.