No.S-137743 Vancouver Registry IN THE SUPREME COURT OF BRITISH COLUMBIA
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No.S-137743 Vancouver Registry IN THE SUPREME COURT OF BRITISH COLUMBIA
No.S-137743 Vancouver Registry IN THE SUPREME COURT OF BRITISH COLUMBIA IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENTSACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF THE BUSINESS CORPORA TIONS ACT, S.B.C. 2600, c. 57, AS AMENDED AND IN THE MATTER OF THE CANADA BUSINESS CORPORA TIONSACT, R.S.C. 1985, c. C-44, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE AND ARRANGEMENT OF LEAGUE ASSETS CORP. AND THOSE PARTIES LISTED ON SCHEDULE “A” PETITIONERS NOTICE OF APPLICATION Name of applicant: Ad Hoc Group of Convertible Promissory Noteholders of League Opportunity Fund Ltd. (the “Noteholder Group”) To: Those parties listed on the Service List at Schedule “B” TAKE NOTICE that an application will be made by the Noteholder Group to the Honourable Madam Justice Fitzpatrick at the courthouse at 800 Smithe Street, in the City of Vancouver, in the Province of British Columbia, on November 19, 2013 at 9:45 a.m. (or as soon after as they may be heard) for the orders and directions set out in Part 1 below. Part!: ORDERS SOUGHT An order abridging service such that this application is properly returnable on November 19, 2013 and that service on parties other than those on the service list maintained by the Petitioners and the Monitor in these proceedings is hereby dispensed with; 2. An order pursuant to the Companies’ Creditors ArrangementAct, R.S.C. 1985 c. C-36, as amended (the “CCAA”) lifting the stay of proceedings imposed by the Amended and Restated Initial Order for the purpose of: a. a declaration on a summary basis that the assets of League Capital Markets Ltd. (“LCM”), League Assets Corp. (“LAC”), 1GW REIT Limited Partnership (“1GW REIT”), 1GW REIT GP Inc. (“1GW REIT GP”), Colwood City Centre Limited Partnership (“Coiwood LP”), Coiwood City Centre GP Inc. (“Coiwood GP”), Gatineau Limited Partnership (“Gatineau LP”), Gatineau Centre Development Limited Partnership, (“Gatineau LP”), Gatineau Centre Development Corporation (“Gatineau Development”), Gatineau Centre Development GP Inc. (“Gatineau GP”) Redux Duncan City Centre Limited Partnership and Duncan City Centre GP Inc. (“Duncan GP”) (LCM, LAC, 1GW REIT, 1GW REIT GP, Coiwood LP, Colwood GP, Gatineau LP, Gatineau LP, Gatineau Development, Gatineau GP, and Duncan GP together, the “Investee Companies”) are subject to an equitable charge in favour of the Noteholders; b. a declaration on a summary basis that the subsidiaries of 1GW REIT are subject to an equitable charge in favour of the Noteholders. The subsidiaries of 1GW REIT include: i. Londondale Shopping Centre Limited Partnership; ii. Londondale Shopping Centre GP Inc.; iii. 2164613 Ontario Inc. iv. 473 Albert St. Office Limited Partnership v. 473 Albert St. Office GP Inc.; vi. Member Partners’ Consolidated Properties Limited Partnership; vii. Member Partners’ Consolidated Properties GP Inc.; viii. Sundel Square Ltd.; ix. Arbutus Industrial Park Ltd.; x. 1GW Properties Limited Partnership I; xi. 1GW Properties GP I Inc.; xii. Market Square Properties GP Inc.; xiii. 2148711 Ontario Inc.; xiv. 2164614 Ontario Inc.; xv. Market Square Properties Limited Partnership; xvi. Market Square Properties OP Inc.; xvii. 1GW Public Limited Partnership; xviii. 1GW Public GP Inc.; xix. LAPP Global Asset Management Corp.; xx. Durham Portfolio Limited Partnership; xxi. Durham Portfolio GP Inc.; xxii. League Debt Corp.; xxiii. 0812307 B.C. Ltd.; xxiv. TOW Industrial Limited Partnership; xxv. 8252220 Canada Inc.; xxvi. 1GW Industrial GP Inc.; xxvii. Tyee Plaza Limited Partnership; and xxviii. Tyee Plaza GP Inc. c. a declaration on a summary basis that Coiwood LP and Coiwood GP’s interest in Colwood Triumph Limited Partnership, Colwood Belmont Developments Ltd., Colwood Sooke Developments Ltd., Coiwood Jerome Developments Ltd, Coiwood City Centre Corp. and 0781891 B.C. Ltd. are subject to an equitable charge in favour of the Noteholders; d. a declaration on a summary basis that Gatineau LP and Gatineau OP’s interest in Gatineau Centre Development GP Inc. and Gatineau Centre Real Estate Development Corporation are subject to an equitable charge in favour of the Noteholders; e. a declaration on a summary basis that Duncan City Centre Limited Partnership 0811883 B.C. Ltd., 0827524 B.C. Ltd., Village Green Holdings #2 Limited, Village Green Holdings Limited Partnership and Village Green Holdings #3 are subject to an equitable charge in favour of the Noteholders; and, f. a declaration on a summary basis that LCM’s equity interest in Monarch Wealth Corporation (“MCW”) is pledged to the Noteholders; 3. An order dispensing with the requirement that the Noteholder Group register its interest in the assets listed above in paragraph 2, and declaring that the Noteholder Group’s security interest in the above assets is hereby perfected; 4. In the alternative, an order lifting the stay of proceedings for the limited purpose of permitting the Noteholders to bring an action seeking any or all of the equitable charges sought in paragraph 2; 5. A declaration that the Noteholder Group is at liberty to apply for further security as the Noteholder Group receives further information regarding the use of the Noteholder Group funds; and, 6. Such other Orders or relief as this Honourable Court deems just and may grant. Part 2: FACTUAL BASIS 7. On October 18, 2013, the Supreme Court of British Columbia granted the Initial Order in these proceedings. 8. On October 25, 2013, the Supreme Court of British Columbia granted the Amended and Restated Initial Order (“ARIO”) in these proceedings. 9. In or about 2012, League Opportunity Fund (“LOF”) offered Convertible Promissory Notes (the “Notes”) for aggregate proceeds of up to $25,000,000 (the “Offering”). The stated purpose of the Offering was to provide bridge capital to fund the acquisition of and investment in strategic corporate and real estate assets. Pursuant to the terms of the Offering, LOF was to obtain a security interest from companies receiving funds from LOF and the Notes. 10. The Offering Proceeds”). 11. Trapeze Capital Corp. (“Trapeze”) and Brookfield Soundvest Capital Management Ltd. (“Brookfield”) are representatives of various beneficial Noteholders. Together with 874253 Ontario Limited, Trapeze and Brookfield (the “Initial Directing Noteholders”) collectively hold $6,845,000 of the Notes, representing 51% of the total principal amount. 12. The Initial Directing Noteholders have made various inquiries of the CCAA Applicants regarding the use of the Notes Proceeds. 13. Based on the information received to-date, LOF used the Notes Proceeds to: generated proceeds of approximately $13,500,000 (the “Notes a. pay $450,000 towards the general working capital of LOF; b. pay $1,195,821 in commissions, legal and filing fees; c. loan $9,988,312 to, or on behalf of, LAC (the “LAC Loan”); d. loan $550,000 to LCM (the “LCM Loan”); e. pay $451,259 to 2267551 Ontario Inc. 0/a Green Tree Capital; and, f. pay $985,850 to Highview Financial Holdings Inc. 14. The LAC Loan was distributed to the entities listed in paragraph 36 of the Affidavit #2 of Adam Abramson sworn November 18, 2013 (the “Abramson Affidavit”), including 1GW REIT (which received $975,095), Colwood LP (which received $2,769,000), Gatineau LP (which received $1,500,000) 15. It appears that LCM Loan was used, at least in part, to acquire LCM’s interest in MCW, which owns Monarch Wealth Assurance Agencies Inc. and Monarch Wealth Deposit Group Inc. 16. At all material times, Emanuel Arruda (“Arruda”) and Adam Gant (“Gant”) were directors of LOF and also directors of the Investee Companies which received, directly or indirectly, Notes Proceeds. In particular, at all material times, Arruda and Gant were directors of: a. LAC; b. IGWREITGP; c. Coiwood GP; d. Gatineau Development; e. Gatineau GP; and, f. Duncan GP. 17. Despite delivering a portion of the Notes Proceeds to the Investee Companies, LOF failed or omitted to obtain security from the Investee Companies or their subsidiaries as required by the terms of the Notes. 18. Each of the Investee Companies and their subsidiaries knew of the requirement to grant a security interest to LOF for the benefit of the Noteholders in exchange for receiving funds from the Notes Proceeds. 19. In the alternative, Arruda and Gant were aware of the requirement to grant a security interest to LOF for the benefit of the Noteholders in exchange for receiving funds from the Notes Proceeds, and the Investee Companies can be deemed to have this knowledge through Arruda and Gant. 20. The Noteholder Group continues to receive information regarding the companies to which the Notes Proceeds were distributed, directly or indirectly. As further information is uncovered, the Noteholder Group may seek to enforce its security interest in those companies. Part 3: 21. LEGAL BASIS The CCAA grants this Honourable Court broad authority to make any order that it considers appropriate in the circumstances. Companies’ Creditors Arrangements Act, R.S.C. 1985, c.C-36 (the “CCAA”) s. 11. 22. The decision of whether to lift a stay is based on this Honourable Court’s balancing of a variety of interests. 23. Situations in which Canadian Courts have found it appropriate to lift a stay in CCAA proceedings include: a. when the plan is likely to fail; b. where the applicant shows hardship caused by the stay itself and independent of any pre-existing condition of the applicant creditor; c. where the applicant shows necessity of payment where the creditor’s financial problems are created by the order or where the failure to pay the creditor would cause it to close and thus jeopardize the debtor company’s existence; d. where the applicant would be severely prejudiced by the refusal to lift the stay and there would be not resulting prejudice to the debtor company or the positions of creditors; e. where it is necessary to permit the applicant to steps to protect a right which could be lost by the passage of time; and, f. if, after a lapse of a significant time period, the insolvent is no closer to a proposal than at the commencement of the stay period. Canadian Airlines Corp. (Re) (2004), 19 C.B.R. 24. th 4 1 at Para 20. In this case, the facts favour lifting the stay to permit the Noteholders to obtain their security interests: a. to the extent LOF distributed funds to the Investee Companies, LOF ought to have obtained a security interest in favour of the Noteholder Group at the time funds were advanced; b. the stay imposes a hardship upon the Noteholders, and it would be severely prejudicial to their interests if the Noteholders are not able to pursue their security interest immediately, as this interest could be lost, or eroded, with the passage of time; and, c. there will be no prejudice to the debtor companies as a result of lifting the stay as it will allow for recognition of an interest that ought to have been granted at the time funds were advanced. 25. Where there is a common intention between a mortgagor and a mortgagee to secure property for either a past debt or future advances, where that common intention is unenforceable under the strict demands of the common law, an equitable charge against the property will arise. O’Brien v. Royal Bank of Canada (2008), 68 R.P.R. th) 4 ( • 261 26. Similarly, where there is an agreement between a debtor and a creditor that a debt owing will be paid of specific funds coming to the debtor, or an order given by a debtor to a creditor upon a person owing money or holding funds belonging to the debtor, directing such person to pay such funds to the creditor will create a valid equitable charge upon the funds. This principle has been applied to recognize equitable charges where there is a defect in granting a security interest. Production Enhancement Group Inc. (Re), 2011 ABQB 350 (“PEG”). 27. The Noteholder Group submits that the above legal principles support finding a security interest in favour of the Noteholders against the Investee Companies and each of the subsidiaries receiving funds. 28. The Noteholders and LOF expressed a clear intention to create a security interest in favour of the Noteholders: “[LOF] will enter into loan agreements with all investee companies with any loans advanced by [LOF] secured by security agreements over the assets of the investee companies.” Abramson Affidavit, Exhibit A 29. In distributing funds to the Investee Companies, LOF failed or omitted to obtain the necessary security from the Investee Companies. 30. However, the Investee Companies were aware of the intention to create a security interest in favour of the Noteholders. 31. In the alternative, as a result of their common management and ownership, the Investee Companies can be imputed with LOF’s knowledge of the intention to create a security interest in favour of the Noteholders. Both Arruda and Gant are directors of LOF and each of the Investee Companies. Arruda and Gant were each aware of the intention to create a security interest in favour of the Noteholders. 32. A company may be imputed with knowledge of a security agreement so long as it would have been reasonable for a director or senior person within the company to have taken cognizance of the agreement. Such knowledge can be imputed where the company shares a director or officer with another company with knowledge of the agreement. AGT Financial Corporation v. Ellake Services Limited and Mark Cosman, 2011 BCSC 578 33. Part 4: at Para 55. The Noteholder Group respectfully requests that this Honourable Court give effect to the intention between the parties by granting an equitable charge in favour of the Noteholders over the assets of the Investee Companies, including giving the Noteholders and equitable charge over LCM’s equity interest in MCW. MATERIAL TO BE RELIED ON 34. The Monitor’s First Report to the Court dated October 23, 2013; 35. The Affidavit of Adam Abramson dated November 18, 2013; ______________________________ 36. The pleadings and proceedings herein; and 37. Such other material as counsel may advise and this Honourable Court may permit. The Applicant estimates that the application will take 45 minutes. This matter is within the jurisdiction of a master. This matter is not within the jurisdiction of a master because Madam Justice Fitzpatrick is seized of these proceedings. TO THE PERSONS RECEIVU’1G THIS NOTICE OF APPLICATION: If you wish to respond to the application, you must, within 5 days after service of this notice of application or, if the application is brought under Rule 9-7, within 8 days after the date of service of this notice of application, a) b) c) file an application response in Form 33, file the original of every affidavit, and of every other document, that (i) you intend to refer to at the hearing of this application, and (ii) has not already been filed in the proceeding, and serve on the applicant 2 copies of the following, and on every other party of record one copy of the following: (i) a copy of the filed application response; (ii) a copy of each of the filed affidavits and other documents that you intend to refer to at the hearing of this application and that has not been already been served on that person; (iii) if this application is brought under Rule 9-7, any notice that you are required to give under Rule 9-7(9). Dated: November 18, 2013 Signature of \(i1Thn applicant ]\ . Skelly \4wye’\for the Applicant N This Notice of Application is delivered by Heenan Blaikie LLP, 2200 1055 West Hastings Street, Vancouver, British Columbia, V6E 2E9 (Attention: William E.J. Skelly and Lisa C. Hiebert); Phone: (604)891-1192; Email: WSkel1y(heenan.ca and [email protected] — To be completed by the court only: Order made in the terms requested in paragraphs [ j notice of application of Part I of this [1 with the following variations and additional terms: DateS Signature of [1 Judge F 1 Master SCHEDULE “A” CCAA APPLICANTS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 0781591 B.C. Ltd. 0811883 B.C. Ltd. 0812307 B.C. Ltd. 0827524 B.C. Ltd. 0873201 B.C. Ltd. 0891146 B.C. Ltd. 0895249 B.C. Ltd. 0895251 B.C. Ltd. 0908150 B.C. Ltd. 2128273 Ontario Inc. 2146431 Ontario Inc. 2148711 Ontario Inc. 2164613 Ontario Inc. 2164614 Ontario Inc. 2246329 Ontario Limited 2291088 Ontario Inc. 2314845 Ontario Inc. 473 Albert St. Office GP Inc. 473 Albert St. Office Limited Partnership 7667906 Canada Inc. 8252220 Canada Inc. Arbutus Industrial Park Ltd. Coiwood Belmont Developments Ltd. Coiwood City Centre Corp. Coiwood City Centre GP Inc. Colwood City Centre Limited Partnership Colwood Jerome Developments Ltd. Colwood Sooke Developments Ltd. Colwood’s Triumph GP Ltd. Colwood’s Triumph Limited Partnership Cowichan District Financial Centre GP Inc. Cowichan District Financial Centre Limited Partnership Cygnet Apartments GP Inc. Cygnet Properties GP Inc. Duncan City Centre GP Inc. Duncan City Centre Limited Partnership Durham Portfolio GP Inc. Durham Portfolio Limited Partnership Fort St. John Retail GP Inc. Fort St. John Retail Limited Partnership Gatineau Centre Development GP Inc. Gatineau Centre Development Limited Partnership Gatineau Centre Real Estate Development Corporation 1GW Cash Management Fund Ltd. 1GW Diversified Redevelopment Fund GP Inc. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 84. 85. 86. 87. 88. 89. 90. 91. 92. 1GW Diversified Redevelopment Fund Limited Partnership 1GW Energy Capital GP Inc. 1GW Energy Capital Limited Partnership 1GW Industrial GP Inc. 1GW Industrial Limited Partnership 1GW Mortgage Investment Corporation 1GW Properties GP I Inc. 1GW Properties Limited Partnership I 1GW Public GP Inc. 1GW Public Limited Partnership 1GW REIT: [name change to League 1GW Real Estate Investment Trust] 1GW REIT GP Inc. 1GW REIT Limited Partnership 1GW Residential Capital GP Inc. 1GW Residential Capital Limited Partnership Jesken Development GP Inc. Jesken Development Limited Partnership Jesken Investment GP Inc. Jesken Investment Limited Partnership LAPP Global Asset Management Corp. League Acquisition Corp. League Assets Corp. League Assets GP Inc. League Assets International Inc. League Assets Limited Partnership League Capital Markets Ltd. League Capital Partners Ltd. League Debt Corp. League Financial Partners Inc. League Founding Limited Partner Ltd. League Holdings Corp. League Investment Fund Ltd. League Investment Services Inc. League Opportunity Fund Ltd. League Realty Advisory Ltd. League Realty Services Ltd. League REIT Jnvestco Inc. 83. Londondale Shopping Centre GP Inc. Londondale Shopping Centre Limited Partnership Market Square Properties GP Inc. Market Square Properties Limited Partnership Member-Partners’ Consolidated Properties GP Inc. Member-Partners’ Consolidated Properties Limited Partnership North Vernon Properties Inc. North Vernon Properties Limited Partnership Partners Equity Finance Inc. Redux Duncan City Centre Limited Partnership Residences At Quadra Village GP Inc. Residences At Quadra Village Limited Partnership Stoney Range Industrial GP Inc. Stoney Range Industrial Limited Partnership Sundel Square Ltd. Tsawassen Retail Power Centre GP Inc. Tsawassen Retail Power Centre Limited Partnership Tyee Plaza GP Inc. Tyee Plaza Limited Partnership Village Green Holdings #2 Ltd. Village Green Holdings #3 Ltd. Village Green Holdings Limited Partnership Zeus Energy Ltd. 93. 94. 95. 96. 97. 98. 99. 100. 101. 102. 103. 104. 105. HBdocs - 15930368v6 L) NO. S-137743 VANCOUVER REGISTRY IN THE SUPREME COURT OF BRITISH COLUMBIA IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENTACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF THE BUSINESS CORPORATIONS ACT, S.B.C. 2002, c. 57, AS AMENDED AND IN THE MATTER OF THE CANADA BUSINESS CORPORA TIONS ACT, R.S.C. 1985, c. C-44, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE AND ARRANGEMENT OF LEAGUE ASSETS CORP. AND THOSE PARTIES LISTED ON SCHEDULE ‘A” PETITIONERS SERVICE LIST Updated: November 15, 2013 Farris, Vaughan, Wills & Murphy LLP 2500-700 W. Georgia Street Vancouver, BC V7Y 1 B3 PricewaterhouseCoopers Inc. 250 Howe Street, Suite 700 Vancouver, BC V6C 3S7 Attention: David E. Gruber Rebecca Morse Tim Louman-Gardiner Attention: Email: dgruberfarris.com [email protected] tlouman-gardinerfarris.com lfergusonfarris.com Counsel for the Petitioners Email: Michael J. Vermette Neil Bunker Paul Quill Patricia A. Marshall John McKenna [email protected] [email protected] paul.r.quilIca.pwc.com patricia. marshaIlca.pwc.com [email protected] The Monitor -2Osler Hoskin & Harcourt LLP 100 King Street West, 1 First Canadian Place, Suite 6100, P.O. Box 50 Toronto, ON M5X 1B8 Cook Roberts LLP 7 Floor 1175 Douglas Street Victoria, BC V8W2E1 - Attention: Attention: Email: John van Cuylenborg Kyle Hamilton [email protected] [email protected] Tracy SandIer Jeremy Dacks Email: [email protected] [email protected] Counsel for Farmer Constructors Inc. Counsel forthe Monitor John McManaman Chief Financial Officer Farmer Constructors Inc. 360 Harbour Road Victoria, BC V9A 3S1 Email: [email protected] Pushor Mitchell LLP 301 1665 Ellis Street Kelowna, BC V1Y 2B3 Gowling Lafleur Henderson LLP 550 Burrard Street Suite 2300, Bentall 5 Vancouver, BC V6C 2B5 - Attention: Email: Steve Wilson [email protected] Counsel for Peace Hills Trust Co. Attention: Cohn Brousson Jonathan B. Ross [email protected] [email protected] Email: Counsel for Quest Capital Management Corp. and Quest Mortgage Corp. Patterson Adams 402-707 Fort Street Victoria, BC V8W 303 Bull Housser & Tupper LLP Suite 900 900 Howe Street Vancouver, BC V6Z 2M4 Attention: Email: Attention: Email: Les Jamieson [email protected] - Steven D. Dvorak [email protected] Counsel for 360305 B. C. Ltd. Counsel for BCMP Mortgage Investment Corporation Borden Ladner Gervais LLP 1200 Waterfront Centre 200 Burrard Street Vancouver, BC V7X 1T2 Borden Ladner Gervais LLP 1900 Centennial Place, East Tower rd 520 3 Avenue SW. Calgary, AB T2P 0R3 Attention: Attention: Email: Magnus Verbrugge Betty Torsky [email protected] [email protected] Counsel for TCC Mortgage Holdings Inc. - Email: Andrew K. Maciag, Q.C. Robert Dawkins amaciagblg.com RDawkinsblg.com Counsel for FCC Mortgage Associates Inc. and Firm Capital Mortgage Fund Inc. -3Heath Law LLP Westhill Centre 200 1808 Bowen Road Nanaimo, BC V9S 5W4 - Attention: Email: Chuck Blanaru [email protected] Owen Bird Law Corporation 29th Floor, Three Bentall Centre 595 Burrard Street PC Box 49130 Vancouver, BC V7X 1J5 Attention: Email: Scott H. Stephens [email protected] Counsel for Coastal Community Credit Union Counsel for Coast Capital Savings Credit Union and Romspen Investment Corporation Bennington Financial Services Corp. 302 700 Dorval Drive Oakville, ON L6K 3V3 874253 Ontario Limited 25 Sheppard Aye, W. Suite 1100 Toronto, ON M2N 6S6 Attention: Email: Attention: Email: Leann Goodall [email protected] Jack A. Rotsztain [email protected] Counsel for Bodkin Capital Corporation On their own behalf Ronald David Parachoniak and Hala Parachoniak Suite 855, 1489 Marine Drive West Vancouver, BC V7T 1 B8 First Calgary Financial 1100, 7” Avenue SW. Calgary, AB T2P 2Z1 Email: rparachoniakgmail.com Attention: Email: Tyson Hartwell thartwellfirstcalgary.com On their own behalf On its own behalf Kornfeld LLP 1 100 One Bentall Centre 505 Burrard Street, Box 1 1 Vancouver, BC V7X 1M5 Don Hicken 545 Steele Avenue Peterborough, ON K9J 5A2 Email: Attention: Email: Douglas B. Hyndman [email protected] [email protected] On his own behalf Counsel for Business Development Bank of Canada Blake, Cassels & Graydon LLP 595 Burrard Street, Suite 2600 Vancouver, BC V7X 1L3 Audet Williams 434 Saint-Pierre Street, 2nd floor Montreal, QC H2Y 2M5 Attention: Attention: Email: Email: Bill Kaplan Peter Rubin Helen Sevenoaks [email protected] [email protected] [email protected] Counsel for Timbercreek Mortgage Investment Corporation Pierre Audet [email protected] Counsel for Sun Life Assurance Company -4Lawson Lundell LLP 1600- 925 West Georgia Street Vancouver, BC V6C 3L2 Heenan Blaikie LLP 1055 West Hastings Street, Suite 2200 Vancouver, BC V6E 2E9 Attention: Email: Attention: William Roberts [email protected] Email: Counsel for British Columbia Securities Commission William E.J. Skelly John J. Salmas [email protected] [email protected] Counsel for Ad Hoc Committee of Convertible Promisso,y Noteholders League Opportunity Fund Ltd. - Bull Housser & Tupper LLP Suite 900 900 Howe Street Vancouver, BC V6Z2M4 - Attention: Email: R. Max Collett [email protected] Counsel for PDG Investments Norton Rose Fulbright Canada LLP Complexe Jules-Dallaire I Tour Norton Rose Fulbright, Bureau 1500, 2828, boulevard Laurier Québec, Quebec GIV 0B9 Norton Rose Fuibright Canada LLP 3700 Devon Tower 400 3rd Ave. SW Calgary, AB T2P 4H2 - Attention: Email: Christian Roy Justin Doll [email protected] justin.doIlnortonrosefulbright.com Counsel for Resolute FP Canada Inc. McLeod Law LLP Centennial Place, West Tower th 2110, 250- 5 Street S.W. Calgary, AB T2P 0R4 Attention: Email: Jeff W. Moroz [email protected] Counsel for Certain Investors in Alberta Joshy Kallungal Esther Kallungal Email: joshykaI12rogers.com Lawson Lundell LLP 1600 925 West Georgia Street Vancouver, BC V6C 3L2 - Attention: Email: Heather M.B. Ferris [email protected] Counsel for Export Development Canada, Bank of Montreal and Churchill Real Estate Inc. Owen Bird Law Corporation 29th Floor, Three Bentall Centre 595 Burrard Street PC Box 49130 Vancouver, BC V7X 1J5 On their own behalf Attention: Email: Alan A. Fydenlund afrydenlundowenbird.com Counsel for Canadian Western Bank -5Borden Ladner Gervais LLP 1200 Waterfront Centre 200 Burrard Street Vancouver, BC V7X 1T2 McMillan LLP Royal Centre, 1055 W. Georgia Street, Suite 1500 PC Box 11117 Vancouver, BC V6E 4N7 Attention: Email: Attention: Email : Geoffrey Thompson gthompsonblg.com Peter Reardon peter.reardonmcmilIan.ca Counsel for Citizens Bank of Canada Counsel for Maxium Financial Seivices Inc. Turnham Woodland Barristers & Solicitors 1002 Wharf Street Victoria, BC V8W 1T4 Meckelborg Financial Attention: Email: Email: [email protected] marktmfgltd.com A. Ross Woodland [email protected] Counsel for Citta Construction Ltd. On their own behalf Gehien Dabbs Lawyers 1201—1030W Georgia Street Vancouver, BC V6E 2Y3 Fasken Martineau DuMoulin LLP 2900 550 Burrard Street, Vancouver, British Columbia V6C 0A3 Gregory Gehlen [email protected] Attention: Email: - Attention: John Grieve Kibben Jackson Vicki Tickle Email: jgrievefasken.com [email protected] [email protected] Counsel for DIP Lenders Counsel for Representative Counsel for Investors Bull Housser & Tupper LLP Suite 900 900 Howe Street Vancouver, BC V6Z2M4 Webster Hudson & Coombe LLP 510 1040 West Georgia Street Vancouver BC V6E4H1 Attention: Email: Attention: Email: - Kieran E. Siddall [email protected] - Daniel D. Nugent [email protected] Counsel for BCMP Mortgage Investment Corporation Counsel for Addenda Capital Corp Department of Justice 900 840 Howe Street Vancouver, British Columbia V6Z 2S9 Woodward & Co. Lawyers LLP Second Floor, 844 Courtney Street Victoria, BC V8W 1C4 Attention: Attention: Gary S. Campo Email: [email protected] — Email: Jason W. Levine Neva Beckie jason.levine©justice.gc.ca Neva.Beckiejustice.gc.ca Counsel for CRA Counsel for Cowichan Tribes First Nation -6Kanuka Thuringer LLP 1400 2500 Victoria Ave Regina SK S4P 3X2 Aboriginal Law Section Department of Justice Canada 900 840 Howe Street Vancouver, BC V6Z 2S9 - Attention: Email: - Warren N. Sproule, Q.C. wsproulektIlp.ca Counsel for Concentra Financial Services Association Attention: Email: Karen L. Dawson [email protected] Counsel for Department of Indian Affairs and Northern Development Bennett Jones LLP 4500 Bankers Hall East, 855 2nd Street SW, Calgary, AB, T2P 4K7 Baker Newby LLP 200 2955 Gladwin Road Abbotsford, BC V2T 5T4 Attention: Email: Attention: Email: - Ken Lenz lenzk©bennettjones.com — Adnan N. Habib [email protected] Counsel for G Vest Tsawwassen Power Centre Limited Partnership Counsel for Envision Credit Union Norton Rose Fulbright Canada LLP 3700 Devon Tower 400 3rd Ave. SW Calgary, AB T2P 4H2 Fishman Flanz Meland Paquin LLP 1250, Boul. Rene-Levesque 0., Suite 4100 Montréal, Québec H3B 4W8 - Howard A. Gorman Virginie Gauthier Email: howard.gormannortonrosefuIbright.com [email protected] Attention: Mark E. Meland Jason Dolman Email: [email protected] jdolmanffmp.ca Attention: Counsel for Orange Capital, LLC Counsel for Simsue Investments Inc. and 4186117 Canada Inc. Miller Thomson LLP 2700 Commerce Place 10155- 102 Street Edmonton, AB, Canada T5J 4G8 Taylor Veinotte Sullivan, Barristers Suite 300-1168 Hamilton Street Vancouver, B.C. V6B 2S2 Attention: Email: Thomas L Gusa Rick Reeson, Q.C. Stephen Ross [email protected] [email protected] [email protected] Counsel for Servus Credit Union Ltd. McCarthy Tétrault LLP P.O. Box 10424, Suite 1300 777 Dunsmuir Street Vancouver BC V7Y 1 K2 Attention: Email: Warren Milman [email protected] Counsel for Partners Reit Attention: Email: Carey D. Veinotte cvctvsbarristers.com Counsel to a number of investors