BDO Canada Limited, a leading professional services firm acting in its capacity as court-appointed receiver, completed the sale of 42 guestroom strata lots comprising Mountainside Lodge, a prominent hospitality property located in Whistler, British Columbia.
Fasken represented BDO in connection with the C$12 million transaction, which was completed through a court-supervised receivership process. The sale was conducted pursuant to a stalking horse asset purchase agreement with Executive Mountainside Holdings Ltd. as purchaser. The mandate included advising on all aspects of the transaction, obtaining an approval and vesting order from the Supreme Court of British Columbia, addressing creditor considerations, and navigating significant withholding tax issues arising from a non-resident vendor.
The matter involved a complex intersection of insolvency, real estate, tax, and hospitality industry considerations. The use of a stalking horse bid provided certainty and value maximization for stakeholders, while the judicial approval process required careful coordination among multiple parties and advisors. The transaction highlights Fasken's ability to manage insolvency-driven real estate transactions involving significant hospitality assets and complex tax considerations.
Fasken represented BDO Canada Limited with a team led by Kristian Arciaga (Real Estate), Kibben Jackson (Insolvency & Restructuring), and Dylan Chochla (Insolvency & Restructuring), and included Sarah Batut (Real Estate), Jennifer Nguyen (Real Estate), and Mishaal Gill (Insolvency & Restructuring).
Jurisdiction
- British Columbia
