The receivership proceedings pertaining to the Delta Golf & Country Club have ended, and the court-appointed Receiver has been discharged, according to filings in the Supreme Court of British Columbia.
Located at 11550 Ladner Truck Road along the eastern side of the Annacis Highway near the boundary between Delta and Surrey, the Delta Golf & Country Club spans 64.8 acres, and is home to an 18-hole golf course supported by a 6,357 sq. ft clubhouse with a banquet hall and cafeteria.
The property is legally owned under 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd. and beneficially owned by Kuldeep Bansal, who formerly owned the Westfield Business Centre at 14178 104 Avenue in Surrey that has been vacant since it was constructed in 1998. The property became the subject of a foreclosure proceeding in 2024 and was sold in 2025 for $57 million, as previously reported by STOREYS.
BC Assessment valued 11550 Ladner Truck Road at $6,122,400 in an assessment dated to July 1, 2025. The adjacent Delta Golf Centre Driving Range at 11840 Ladner Truck Road is under separate ownership.
The Receivership
The receivership proceeding was initiated by the Royal Bank of Canada, pertaining to a first-ranking mortgage in the amount of $4.1 million that RBC provided in February 2023. The loan was guaranteed by Kiran Bala and Ashok K. Bansal, which court documents identify as being related to Bansal.
The owners also took out a second-ranking mortgage from 0938080 B.C. Ltd. in August 2022 in the amount of $14 million.
According to RBC, the owners became unable to repay or service the second mortgage and 0938080 B.C. Ltd. initiated a foreclosure proceeding in July 2023. They then stopped servicing the RBC mortgage in August 2024, and also failed to pay corporate income taxes to the Canada Revenue Agency and property taxes.
RBC initiated a receivership proceeding in November 2024, but then reached a forbearance agreement with the owners in June 2025 to delay enforcement and give the owners time to seek refinancing. However, the owners were unable to do so and the receivership came into effect on December 15, as first reported by Western Investor. RBC said it was owed approximately $3.92 million as of October 2025.
Highlights from the Delta Golf & Country Club listing brochure. (Colliers)
The Sales Process and Refinancing
On March 24, the Supreme Court then approved the court-ordered sales process, with Nonie Marler, Matt Fawsitt, and Bill Randall of Colliers listing the Delta Golf & Country Club with an initial asking price of $10,750,000.
“With limited regional tee time availability and the scarcity of large landholdings in the Lower Mainland, the property offers both operational strength and long term land value banking,” said Colliers in their listing brochure. “Delta Golf & Country Club is well suited for investors seeking secure land banking assets or purchasers looking to elevate an established recreational property in a tightly held and highly connected agricultural district.”
According to a report by the court-appointed Receiver, Colliers obtained 140 expressions of interest, 47 parties signed confidentiality agreements, 11 tours were given, and six parties submitted offers, the highest of which was a conditional offer high enough to pay out both outstanding mortgages.
However, the sales process was terminated after the owners secured refinancing from 0938080 B.C. Ltd. — the second-ranking mortgage holder — to repay the first-ranking RBC mortgage. Details of the refinancing were not disclosed, except that 0938080 B.C. Ltd. may become the owner of the property if the borrowers default.
Re-Opening
The Delta Golf & Country Club had already been closed for a period of time before and during the receivership. The Receiver explored the possibility of re-opening it to improve the value, but believed that re-opening would result in cash flow loss in the first month, and only a break-even result in the second month.
“The Receiver was of the view that reopening the Golf Course was not to [the] benefit of the creditors and therefore required the [borrowers] to provide funds, on an unsecured basis, to fund the operations of the Delta Golf Course, among other things, before the Receiver would commence operations,” said the Receiver in a May report.
“The Receiver also consulted with Colliers regarding whether reopening the Golf Course would be expected to improve the marketing process or enhance value in connection with potential offers under the SISP,” they added. “Colliers advised that continuing on a maintenance only basis, as opposed to reopening, was not expected to materially affect the sales process or the value of the property.”
The refinancing allowed the Receiver to be discharged on May 29, so it’s unclear what has happened since then, but the Delta Golf & Country Club re-opened in June, according to a Facebook post, and appears to be up and running again.
