Storeys reported on April 9 that Maskeen’s Langley project was facing receivership and discussed a long-running rezoning application for 20120 86 Avenue in Carvolth. Township records show that application was filed on Aug. 24, 2022, and is still listed as active on the Township’s development portal.

By the time the file reached council more than three years later, the proposal had become tied up in broader questions about parkland policy, community amenity contributions (CAC), and the future direction of Willoughby planning.

In a Sept. 15, 2025 report to council, Township staff said the proposal did not align with the Township’s Neighbourhood Park Land Policy. Staff calculated that comparable voluntary CACs would total $10,224,610, while the applicant offered $5,104,000, roughly half that amount.

The applicant’s rationale letter, attached to the Township report, took a different view. It said the proposal aligned with the vision of staff and council, and argued that the tower height was needed to achieve economies of scale and financial stability.

When the file reached council on Sept. 15, 2025, Councillor Michael Pratt moved to defer the application until council considered an updated Willoughby Community Plan. The motion carried unanimously. 

In an Aug. 27, 2025 petition, National Bank alleged that the loan had not been repaid by March 31, 2025, and that $11,104,160 was owing as of July 14, 2025. The bank also told the court that the rezoning proposal might go to the Sept. 15 council meeting for third reading, but argued that even a favourable vote would not itself repay the debt. 

FTI Consulting says it was appointed as receiver over the Langley debtors on Jan. 8, 2026.

In its response, Maskeen said post-Lorval negotiations with the Township reduced the proposed CAC amount and delayed the application from July 15 to Sept. 15, 2025. It also said the land would be worth more with the amendment than without it.

The receivership is now in court hands. On the municipal side, the rezoning file and related subdivision and development permit applications still appear as active on the Township portal.