Liquidator of Strata Corporation Wind Ups
Under the Strata Property Act, the Liquidator is party appointed to manage the winding up of the strata and the disbursement of revenues and expenses.
The Strata Property Act was amended in 2016, to make it easier for strata corporations to wind themselves up. The amendment reduced the Strata Owners’ voting approval threshold to wind up a strata to 80% vote of all eligible voters instead of the previous unanimous vote requirement provided that the resolution is subsequently confirmed by the B.C. Supreme Court.
The Strata Property Act requires the Strata Corporation, upon approving a winding up, to appoint a Liquidator to carry out the winding up. McEown + Associates Ltd. has the expertise and resources to perform this function successfully.
The services of the Liquidator include, but are not limited to the following:
Publishing notice of the Strata wind-up;
Sending notice to the known Strata creditors;
Taking custody and control of the Strata property and records;
Maintaining the Strata records;
Facilitating the sale of the Strata property;
Distributing the net proceeds of sale, after payment of any registered charges, liens and strata creditors, to the strata owners; and
Retaining the Strata records for 2 years following the cancellation of the Strata Plan.
For further information on our service as Liquidator of Strata Corporation Wind Ups, call John McEown at (604) 558-8012.