Quarry Rock Developments (McAllister) Inc. et al., Receivership

Quarry Rock Developments (McAllister) Inc. et al., a Port Coquitlam, British Columbia-based real estate company, was placed in receivership on April 2, on application by Canadian Western Bank, owed approximately $12.7 million.

CWB initially brought the receivership application in February and agreed that the companies could have until March 31 to close a deal with Northstar Acquisitions. When the companies failed to do so, the receivership order automatically came into effect.

A&M is the receiver.

Counsel is Blakes for CWB and Turner & Co. for the companies.

By: Dina Milivojevic