10412490 Canada Corp. and 10525243 Canada Corp.

10412490 Canada Corp. and 10525243 Canada Corp., the registered owners of two properties in Toronto, Ontario which are being developed into six townhomes and a single family detached home, were placed in receivership on May 24, on application by C&K Mortgage Services Inc. and Canadian Western Trust Company, owed approximately $6.5 million. Rosen Goldberg was appointed receiver. Counsel is Dickinson Wright for the applicants. By Dina Milivojevic

Williams Telecommunications Corp.

Williams Telecommunications Corp., a Mississauga, Ontario-based independent distributor and servicer of new and remanufactured telecommunications equipment, was placed in receivership on May 19 on application by BMO, its secured creditor, owed approximately $2 million, and with the consent of the company. Albert Gelman was appointed receiver. Counsel is Chaitons for the receiver; Miller Thomson for BMO; and TGF for the company. By Dina Milivojevic

Modern Acrylic Systems Ltd.

Modern Acrylic Systems Ltd., a Winnipeg, Manitoba-based company whose primary business was providing exterior insulation and finishing services, was placed in receivership on May 18, on application by TD Bank, owed approximately $300,000 on a secured basis. The company had previously assigned itself into bankruptcy on April 25 and LC Taylor & Co. was appointed bankruptcy trustee. The bankruptcy trustee declined to act as agent for TD Bank in respect of the preservation and collection of the company's accounts receivable. Grant Thornton was appointed receiver. Counsel is MLT Aikins for TD Bank and Taylor McCaffrey for the receiver. By Dina Milivojevic

CNS Iron Fabrication Ltd.

CNS Iron Fabrication Ltd., a Bolton, Ontario-based manufacturer of custom metal construction forms and formwork, and Claeys Family Holdings Inc., a LaSalle, Ontario-based property holding company, were placed in receivership on May 13 on application by RBC, owed approximately $3.2 million. MNP is the receiver. Counsel is Harrison Pensa for RBC. By Dina Milivojevic

PointOne Graphics Inc. (“Graphics”)

PointOne Graphics Inc. ("Graphics"), an Etobicoke, Ontario-based supplier of a range of print and finishing services, was placed in receivership on May 10 on application by PointOne Holdings Inc. ("Holdings"), owed approximately $8.8 million. In 2017, RBC extended a loan to Graphics. In 2019, after RBC brought an application to have a receiver appointed over Graphics and Holdings, Holdings paid approximately $5.6 million to RBC and took an assignment of the debt. Goldhar was appointed receiver. Counsel is Lipman, Zener & Waxman for Holdings. By Dina Milivojevic

0876242 B.C. Ltd., Gateway Development Limited Partnership

0876242 B.C. Ltd., Gateway Development Limited Partnership, the owners of a mixed commercial and industrial strata development located at 3333 Bridgeway Street, Vancouver, British Columbia, were placed in receivership on May 10, on application by Institutional Mortgage Capital Canada Inc., as general partner of IMC Limited Partnership, owed approximately $35.4 million. The development property was scheduled to complete in Spring 2020. Completion was delayed for over two years due to cost overruns, construction delays, and disputes between the companies and the general contractor, Prism Construction Ltd. ("Prism"). On March 15, 2022, Stuart Howard Architects Inc. issued a Certificate of Substantial Performance on the project and Certificate of Payment of $214,125 to be paid to Prism. That amount remains unpaid. The companies and Prism continued to have disputes despite the Certificate of Substantial Performance being issued due to, among other things, disagreement in the amount owing to Prism for work completed, various unapproved change orders, and Prism’s refusal to release occupancy documents required by the architect to request an occupancy inspection from the City of Vancouver. Prism issued a Notice of Suspension to stop work on the project on April 14, and various certificates of pending litigation have been filed on the property. The Bowra Group was appointed Receiver. Counsel is Bridgehouse Law for the companies, Lawson Lundell for Institutional Mortgage Capital Canada Inc., Jenkins Marzban Logan for Prism and DLA Piper for the Receiver. By Dina Milivojevic

30 Roe Investments Corp.

30 Roe Investments Corp., the owner of a condominium located at 30 Roehampton Avenue in Toronto, Ontario, was placed in receivership on May 9 on application by Kingsett Mortgage Corporation, owed approximately $1.9 million as at January 2022. The original maturity date of the loan was in April 2021. Since that time, Kingsett has agreed to three extensions to allow the company to, among other things, pursue refinancing. These efforts have not been successful. KSV was appointed receiver. The company has appealed the receivership order. Counsel is Goodmans for the receiver, Bennett Jones for Kingsett and Solmon Rothbart Tourgis Slodovnick for the company. By Dina Milivojevic

Robus Resources Inc.

Robus Resources Inc., a Calgary, Alberta-based oil and gas company with property and operations in Alberta,was placed in receivership on April 12 on application by Robus Services LLC, its senior secured creditor. In February 2020, Robus Services LLC extended a loan to the company in the principal amount of USD $7 million. As at the end of January, the total debt outstanding to Robus Services LLC was almost USD $15 million. A&M was appointed receiver. Counsel is BDP Law for Robus Services LLC; Cassels for the receiver; and Gowlings for the company and Ernst Methot. By Dina Milivojevic

The Institute of Wellness and Advanced Aesthetics Ltd., 1608309 Alberta Ltd., Mount Royal Surgical Centre Inc.

The Institute of Wellness and Advanced Aesthetics Ltd., 1608309 Alberta Ltd., Mount Royal Surgical Centre Inc., a group of Calgary, Alberta-based companies that collectively operated a plastic surgery clinic, were placed in receivership on April 1. BMO extended credit facilities to the companies in 2019. As at March 2, the clinic was indebted to BMO for $2,246,056.33 plus interest, costs and legal fees. A&M was appointed receiver. Counsel is Burnet, Duckworth & Palmer for BMO. By Dina Milivojevic

Blugo Enterprise Inc.

Blugo Enterprise Inc. was placed in receivership on April 1, on application by Business Development Bank of Canada, owed approximately $1.1 million, together with applicable principal arrears, interest and other obligations as at December 6. Blugo is the owner of real property located at 46 Mimico Avenue, Toronto, Ontario, and Mr. Siddiqui is the principal of Blugo. He opposed the receivership on the basis that he had entered into an agreement to sell the property to a numbered company. Justice Cavanagh granted the receivership order, noting that the agreement was conditional and that the closing could be delayed by either party. BDO was appointed receiver. Counsel is Aird & Berlis for BDC. By Dina Milivojevic