January 19, 2023
181 Davenport Retail Inc. ("181 Retail"), a related party to Northern Citadel Capital Inc. and One8One Davenport Inc., companies involved in the development of a condominium project at 181 Davenport Road in Toronto, Ontario, was placed in receivership on January 19, 2023, on application by PwC as the receiver of Bridging Finance Inc. The other two companies were previously placed in receivership on October 31, 2022, but the court reserved its decision with respect to 181 Retail due to various objections raised by the companies. The receivership order was subsequently amended and restated to include 181 Retail. Richter was appointed Receiver. Counsel is Osler for the Receiver, TGF for PwC as the receiver of Bridging, Henein Hutchinson for the companies and Lax O'Sullivan for Mizrahi Inc. and 2495159 Ontario Inc.
By Dina Milivojevic
