The BC Supreme Court has approved the sale of properties on Lakeshore Road through a liquidation process, resolving a lengthy family dispute among the four Callahan brothers.
A recent ruling shows the court accepted a $42.6 million bid for the Shasta Mobile Home Park submitted by a company controlled by three of the brothers—Douglas, Bruce, and Robert.
This property has attracted public attention due to disagreements among the brothers about its future.
The combined properties, valued between $35 million and $40 million as of January 2023, were sold through a sealed bidding process approved in December 2024.
A total of six bids were submitted.
The court rejected the highest bid of $46.6 million from Shasta Properties Ltd., a company tied to the fourth brother, Ted, because it included a $15 million promissory note.
A second bid from one of Ted’s companies, at $45 million, was also rejected. This bid included vague conditions related to tenant relocations and other issues, which the court determined were more like an option to purchase than a firm offer. The ruling said these conditions posed risks of delay and uncertainty.
Although the winning bid was $2.4 million lower than Ted’s highest offer, its certainty and lack of conditions ultimately influenced the court’s decision, according to the ruling.
The sale brings an end to the long-standing dispute among the Callahan brothers and allows the liquidation process to move forward.
