Receivership – Case Updates
On 19 January 2024, on motion by Peel Condominium Corporation No. 49 in the proceeding underway in Court File No. CV-23-00706755-0000 (the “Proceeding“) in the Superior Court of Justice at Toronto, Ontario (the “Court“), the Honourable Justice Brownstone made an order (the “Receivership Order“) providing for, among other things, the appointment of Baigel Corp. as receiver (in such capacity, the “Receiver“), without security, of certain of the assets, properties, and undertakings (the “250 Property“) of 2502511 Ontario Corp. (sometimes doing business as Land Corp) (the “Debtor“), pursuant to section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended. A copy of the Receivership Order is posted below.
The 250 Property consists of the cash, cash equivalents, investments of any kind, receivables, and monetary receipts of the Debtor, or used in relation to a business carried on by the Debtor, including all proceeds thereof.
The Receiver notes that in the Endorsement of Justice Brownstone, dated 22 January 2024, the Court confirmed that the Mareva injunction in the Proceeding granted by Justice Koehnen on 7 December 2023, and extended by Justice Shin Doi on 18 December 2023, is extended until further order of the Court.
Periodic updates and documents will be posted to this website in accordance with the Court’s E-Service Protocol.
Inquiries
Inquiries and other requests may be directed to the Receiver’s office by contacting:
Paul Franchi, LL.B, MBA, CIRP, LIT
Tel: +1 (416) 224-4350
Email: franchi@baigel.ca
Court Orders and Endorsements
Service List
- Service List – 19 January 2024