Delta Golf & Country Club Receivership Concludes with Successful Refinancing

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The Delta Golf & Country Club's receivership proceedings have concluded, following a refinancing agreement that allowed the property to be sold and operational again.

The legal proceedings regarding the Delta Golf & Country Club have reached a conclusion, as confirmed by the Supreme Court of British Columbia, which has discharged the court-appointed Receiver. This property, located at 11550 Ladner Truck Road adjacent to the Annacis Highway and the Delta-Surrey boundary, encompasses 64.8 acres featuring an 18-hole golf course, alongside a clubhouse that spans 6,357 square feet and includes banquet facilities and a cafeteria. The property is legally owned by 1051247 B.C. Ltd. and Delta Golf Course (2015) Ltd., while the beneficial ownership is attributed to Kuldeep Bansal, who has a background in owning commercial properties, including the now-vacant Westfield Business Centre in Surrey since its inception in 1998.
In 2024, the property became embroiled in a foreclosure proceeding, culminating in its sale in 2025 for $57 million, as reported by STOREYS. According to the BC Assessment, the value of the Delta Golf & Country Club was estimated at $6,122,400 as of July 1, 2025. It is important to note that the adjacent Delta Golf Centre Driving Range, located at 11840 Ladner Truck Road, is under different ownership.
The receivership process was initiated by the Royal Bank of Canada (RBC), which provided a first-ranking mortgage of $4.1 million in February 2023. The loan was guaranteed by Kiran Bala and Ashok K. Bansal, who are identified in court documents as relatives of Bansal. Additionally, the owners secured a second-ranking mortgage from 0938080 B.C. Ltd. amounting to $14 million in August 2022. However, the owners faced difficulties in servicing the second mortgage, leading to a foreclosure process initiated by 0938080 B.C. Ltd. in July 2023. Subsequently, they ceased servicing the RBC mortgage in August 2024 and failed to meet their corporate income tax obligations and property tax payments.
In response, RBC initiated receivership proceedings in November 2024, but a forbearance agreement was reached in June 2025, allowing the owners time to seek refinancing. Unfortunately, the owners were unable to secure the necessary refinancing, and the receivership officially commenced on December 15, as first reported by Western Investor. RBC reported being owed approximately $3.92 million by October 2025.
On March 24, the Supreme Court approved a court-ordered sales process, with the property listed by Colliers at an initial asking price of $10,750,000. Colliers highlighted the property’s potential, citing limited regional tee time availability and the scarcity of extensive landholdings in the Lower Mainland, which positions the Delta Golf & Country Club as an attractive investment opportunity.
The sales process generated significant interest, with Colliers receiving 140 expressions of interest, 47 confidentiality agreements signed, 11 tours conducted, and six offers submitted. The highest offer was conditional and sufficient to cover both outstanding mortgages. However, the sales process was ultimately halted after the owners successfully secured refinancing from 0938080 B.C. Ltd. to settle the first-ranking RBC mortgage. Details regarding the refinancing arrangements remain undisclosed, though it is noted that 0938080 B.C. Ltd. may assume ownership of the property should the borrowers default on their obligations.
Prior to and during the receivership, the Delta Golf & Country Club had been closed. The Receiver considered the prospect of reopening the facility to enhance its value but determined that it would likely incur cash flow losses initially. The Receiver sought additional unsecured funds from the borrowers to cover operational costs before any reopening could occur. Consultations with Colliers indicated that maintaining the property without reopening would not significantly affect the sales process or its value.
Following the refinancing, the Receiver was discharged on May 29, 2025. The Delta Golf & Country Club subsequently reopened in June, as confirmed through a Facebook post, and appears to be operational once again.

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