Creditors of The Land Conservancy of B.C. will get a chance to review a proposal on the future of nearly 50 properties held by the non-profit conservation organization.
An informal Jan. 7 meeting will canvass creditors’ views about disposition of lands under a plan of arrangement, said Briony Penn, TLC consultant, on Friday.
In fall 2013, Victoria-based TLC went into creditor protection with a court-appointed monitor. Its debts topped $7 million.
TLC was in the Supreme Court of B.C. this week to discuss the overall plan, which included whether to accept an offer for its portion of property at Maltby Lake and surrounding lands in Saanich.
No decision was made.
The judge wants to hear from anyone with knowledge about how TLC acquired any of its unsold lands, Penn said. That includes TLC board members and staff. Thie aim is to find out if there are any more documents, or potential claims, that the TLC and the monitor do not have, she said.
