Facts: Peakhill Capital Inc. sought approval for a sale transaction of real property in a receivership proceeding, proposing a Reverse Vesting Order (RVO) instead of a standard Approval and Vesting Order (AVO) to avoid paying approximately $3.5 million in property transfer tax (PTT).

Issue: The court needed to decide whether the transaction could proceed via an RVO, which would circumvent the substantial PTT under the Property Transfer Tax Act, and whether this approach was within the court's jurisdiction and appropriate under the circumstances.

Court's Ruling: The Supreme Court of British Columbia ruled that it had jurisdiction to grant an RVO under insolvency proceedings and determined it was appropriate to do so in this case. The court emphasized the objective of insolvency law to maximize recovery for creditors and noted that the RVO structure would save the creditors approximately $3.5 million in PTT.

Costs/Damages Awarded: The case summary does not specify the amount of costs or damages awarded to the successful party. The emphasis was on the approval of the RVO to save the creditors $3.5 million in PTT, rather than on costs or damages awarded by the court.