Councillor says Cowichan title ruling saw bank deny financing for $100M B.C. project

By Canadian Press on October 30, 2025.

A Richmond, B.C., councillor says a company based in the city has been refused financing for what she says is a $100 million project because of the Cowichan Tribes case.

Coun. Alexa Loo says the company, which she isn’t naming, is currently working with the provincial government to get the certainty it needs to go ahead with what she describes as a manufacturing facility.

Loo spoke of the company’s situation with residents before a meeting with landowners on Tuesday about the impact of the landmark case that confirmed the tribes’ Aboriginal title over about 750 acres of private and government-owned land in Richmond.

Loo says in an interview that the company already owns land for the planned facility in the Cowichan area but was told by its bank that it “doesn’t want to deal with new projects at this time” because of the uncertainty over land title stemming from the case.

When asked about the situation, The City of Richmond provided a statement from Loo saying the firm “is loathe to discuss” its financial situation publicly.

In August, a B.C Supreme Court judge ruled the Cowichan Tribes have Aboriginal title over the land on the Fraser River, that Crown and city titles on the land are defective and invalid, and the granting of private titles on it by the government unjustifiably infringed on the Cowichan title.

The provincial government says it’s collecting information from property owners, including whether they have been able to get mortgages or financing since the decision, and Premier David Eby has encouraged affected parties to come forward.

Attorney General Niki Sharma says she has heard of the case described by Loo, and has asked her staff to find out more.

This report by The Canadian Press was first published Oct. 30, 2025.

Nono Shen and Wolfgang Depner, The Canadian Press