Key facts
- A 130-townhome project in Burnaby is under creditor protection.
- A lender claims it is owed more than $59 million.
A townhouse development in Burnaby, consisting of 130 units, has been placed under creditor protection. This action comes as one of the project's lenders asserts that it is owed in excess of $59 million. The specific details of the creditor protection filing and the identity of the lender were not immediately available, but the situation highlights financial challenges within the development sector.