TLC’s Board of Directors believe in what TLC has accomplished 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 CCAA protection 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.
Please note the necessary forms must be completed and returned to the Monitor by April 25, 2014, to participate in a distribution of funds from the assets of TLC.
Please direct any questions you may have regarding the submission of a claim to Gord McMorran at (604) 684-6212.
Judgments from the Court
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.
The claim by UBC to an interest in Binning House has been rejected, and the Court has deferred a final decision on the sale of Binning House to allow TLC to seek an alternative solution.
The issues before the Court are complex, and it will be necessary for TLC’s legal counsel to analyze the reasons before TLC can provide a full statement in response to this judgment. However, we are heartened by the Court’s recognition, as noted in the decision by the Madam Justice, of the efforts by TLC and its many supporters and volunteers “…in furtherance of this worthy cause and in these difficult circumstances.”
Reports to the Court
For more details from the Monitor including court orders please visit Wolrige Mahon Limited’s website.
TLC returned to court on Monday, November 4, 2013, to report its progress and seek continuation of court protection. TLC is pursuing ways to monetize value from its property portfolio to repay its creditors and restructure its operation. View the Monitor’s 1st Report to the Court.
TLC returned to court on Monday, January 20, 2014, to report its progress and seek continuation of court protection in order to complete a plan to achieve sustainability. The Stay Period was extended to April 30, 2014. View the Monitor’s 4th Report to the Court.
View the Monitor’s 5th Report to the Court, February 27, 2014.
View the Monitor’s 6th Report to the Court, April 17, 2014.
TLC returned to court to report its progress and seek continuation of court protection in order to complete a plan to achieve sustainability. The Stay Period was extended to June 25, 2014.
View the Monitor’s 7th Report to the Court, May 12, 2014.
View the Monitor’s 8th Report to the Court regarding the Claims Process, May 26, 2014.
View the Monitor’s 9th Report to the Court, June 19, 2014.
TLC returned to court June 25, 2014, and the Stay Period was extended to October 17, 2014.
On October 17, 2014, TLC returned to Court to extend the Stay Period to February 2, 2015. View the Monitor’s 10th Report to the Court, registered October 15, 2014.
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.
Properties Listed for Sale
The below properties are currently listed for sale through the CCAA process. For more information regarding the listings please call the appropriate real estate agent.
Previous Posts from the Board of Directors
Summary of TLC’s Annual General Meeting. Read more from the Board in Alastair Craighead’s Chair Report.
View the October Update from the Board of Directors including Bylaw Amendments passed at the AGM.
Recent Media Coverage
Wilson, Carla. “The Land Conservancy creditor protection extended.” Times Colonist. October 27, 2014.
Interview regarding TLC’s Covenant Monitoring Program with Frank Stanford on CFAX 1070, September 11, 2014.
Bailey, Andrew. “District of Tofino’s lowball bid fails to interest indebted Land Conservancy.” Westerley News. July 10, 2014.
Wilson, Carla. “Tofino, The Land Conservancy in tussle over Grice Point property.” Times Colonist. July 2, 2014.
“Monks Point property in danger of being lost to public.” Westerly News. July 2, 2014.
Richter, Brent. “West Vancouver offers $1 for Binning House.” North Shore News. May 28, 2014.
Wilson, Carla. “Financially troubled TLC faces more turmoil.” Times Colonist. May 13, 2014.
Wilson, Carla. “Land Conservancy in court to recover documents about its properties.” Times Colonist. April 22, 2014.
“Burrowing Owl” Raises Funds To Help Support Endangered Okanagan Wildlife.” Scout Magazine. April 18, 2014.
“Sooke Potholes campsite won’t open in 2014.” Times Colonist. April 11, 2014.
Rusland, Peter. “Keating Farm sale approved for cash-strapped TLC.” Cowichan News Leader Pictorial. March 26, 2014.
John Shields’ interview with Frank Stanford on CFAX 1070, March 12, 2014.
Wilson, Carla. “Court approves TLC sale of Keating Farm.” Times Colonist. March 10, 2014.
Wilson, Carla. “The Land Conservancy asset sale stalls in court.” Times Colonist. March 5, 2014.
Wilson, Carla. “Land Conservancy to sell Abkhazi parking, farm.” Times Colonist. March 4, 2014.
To view more media coverage visit our Media Room.