September 11, 2020
110-112 Avenue Road, 114 Avenue Road, and 116 Avenue Road, properties in Toronto, Ontario which are owned by Yorkville Central Investments Inc., Yorkville Central 2 Investments Inc. and Yorkville Central 3 Investments Inc., were placed in receivership on September 11 on application by Cameron Stephens Mortgage Capital Ltd., owed approximately $12.5 million. GC Capital Inc., which holds a second mortgage on the properties, is also owed $2.6 million. RSM Canada was appointed receiver. SC Land Inc. has expressed interest to the receiver in being a stalking horse bidder for the properties. Counsel is Garfinkle Biderman for the applicant, Bennett Jones for the companies, Teplitsky, Colson for SC Land Inc., and Kagan Shastri for GC Capital Inc.