The Globe and Mail reports in its Tuesday edition that Bank of Montreal is caught up in a messy battle over a planned 55-storey, 516-unit condominium tower in Vancouver. The Globe's Andrew Willis writes that at first glance, it is a fight that feeds fears of a meltdown in all the big banks' commercial real estate loan portfolios. BMO backed a flashy development that is now worth far less than the $169-million of debt the project accumulated over the past five years. BMO's problem loan is a case study for what is playing out on office, retail and residential projects across the country. In 2018, with interest rates low and condo construction booming, BMO backed investors who paid $173-million for a property at Haro and Thurlow. In January, BMO put the project into receivership. Court documents reveal the property's seven creditors, including lenders based in China, are at odds over how to move forward. The city's assessed value on the property is just $98-million. Court filings show that while some lenders may take a bath, BMO's $82.2-million loan is likely to be paid in full. The bank's claim ranks ahead of other creditors. It has the court's blessing to start a sales process in late February and accept offers in April.