---
title: "Court appoints receiver for Westbank company over cancelled West End condo project"
description: "A BC Supreme Court judge has put a receiver in charge of four companies tied to Westbank after they stopped paying a $36 million loan for a cancelled 40-storey tower at Alberni and Bidwell streets."
canonical_url: "https://voche.me/news/westbank-700-bidwell-west-end-receivership-november-2026"
last_updated: "2026-11-06T22:33:31.569Z"
---

A BC Supreme Court judge appointed a receiver for four companies linked to Vancouver developer Westbank on Wednesday, after the companies stopped paying a $36 million loan tied to a cancelled 40-storey condo project in the West End.

Justice Kevin D. Loo's decision, issued November 4, puts a receiver in charge of four companies: 700 Bidwell Holdings Inc., 700 Bidwell Limited Partnership, 700 Bidwell Property Inc. and Westbank Holdings Ltd., CTV News reported Thursday. The receivership covers only those companies' interest in one project at 1668 and 1684 Alberni Street in the West End.

## What the court decided

Justice Loo found that the companies owe Bank of Montreal more than $36 million, and that they stopped making interest payments in at least September 2025, according to CTV News's report of the decision.

"The respondents concede that they have made no proposals to pay the debt, despite earlier promises to that effect," the decision reads, as quoted by CTV News. "Interest is accruing at a rate of approximately $5,150 per day. More than $300,000 in interest has accrued since this petition was filed on Aug. 12, 2026."

The receiver was appointed effective immediately. BMO applied under a clause in the loan agreement, and the court sided with the bank. The judge set February 13, 2027 as the earliest date the receiver can sell the properties, giving Westbank about four months to refinance and pay off the debt.

## The project

The site was approved for rezoning in May 2022 to replace two smaller towers with a 40-storey building containing 128 condo units. The development permit application was cancelled in September 2025, and payments to BMO stopped around the same time, according to the court decision reported by CTV News.

Both buildings at 1668 and 1684 Alberni are currently operated as rentals. The court decision noted that rents collected from tenants had not been paid to BMO as required under the loan agreement.

## Westbank's position

After the ruling, Westbank sent CTV News a brief statement: "There is no basis for this filing and we will be submitting an appeal. We have no further comment." The company left unanswered questions about why payments stopped and why the development permit application was cancelled.

The judge applied the order narrowly, covering only Westbank's interest in the Alberni Street project.

## What comes next

The receiver cannot put the properties up for sale before February 13, 2027. If Westbank does not refinance and pay off the debt by then, the receiver could proceed with a sale. The court noted that any sale would be complicated, because the buildings are subdivided into strata units but currently run as rentals.

For the 128 condo units the city rezoned the site for in 2022, the cancelled development permit means that project does not move forward unless new applications are submitted. The City of Vancouver's rezoning approval from May 2022 is a separate matter from the receivership.

Westbank has said it plans to appeal the ruling.

## Sitemap

See the full [sitemap](/sitemap.md) for all pages.