July 21, 2020
1001 Broadview Avenue Inc., a company that owns a pre-construction proposed 10-storey mixed use condominium development located in Toronto, Ontario, was placed in receivership on July 21 on application by Centurion Mortgage Capital Corporation ("Centurion"), owed approximately $8.1 million. The purpose of Centurion's loan was to refinance an existing mortgage to provide the company time to complete the zoning amendment and site approval required for the proposed development. To date, the development has stalled and the company has not yet commenced construction or gone to market to sell any units. BDO was appointed receiver. Counsel is Robins Appleby for the applicant and Adair Goldblatt Bieber for the company.