Bokhari Development Inc.

Creditor and stakeholder information

On August 29, 2023, KPMG Inc. was appointed receiver and manager pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 55 of The Court of King’s Bench Act, C.C.S.M. c. C280, without security, of all of the assets, undertakings and properties of Bokhari Developments Inc., comprising, located at, arising from, or in any way related to the property commonly known as 1801-1825 Park Drive in Portage la Prairie (the "Project Premises"), Manitoba, pursuant to a court order (the “Receivership Order”) of the Court of the King's Bench in Manitoba (the "Court").

The Receivership Order provided that the Receiver shall not be deemed to be in possession of the real property located at the Project Premises until such time as the Receiver takes care and control of the Project Premises, and that the Receiver may elect not to go into possession of the Project Premises until satisfied that adequate insurance coverage is in place.

On November 14, 2023, the Receiver took possession and control of the Project Premises, and in accordance with the terms of the Receivership Order, the Receiver served notice of same to the Service List.

On November 20, 2023, the Court granted an order, among other things, approving the engagement of NDC Construction Ltd. as contractor (the “Contractor”) for certain construction on the development on the Project Premises (the “Project”).

Knight Law Office is holding certain holdback funds related to the Project (the “Holdback Funds”), and has made an application to the Court for an order authorizing and directing Knight Law Office to pay the Holdback Funds into Court, less the amount of Knight Law Office’s costs (to be determined by the Court). The application is to be heard on July 5, 2024 (application materials are posted below).