May 30, 2022
1947755 Ontario Ltd., the owner of real property located at 142 King Street East, Bolton, Ontario, filed an assignment in bankruptcy on May 30, listing approximately $1.9 million in liabilities. The current shareholder purchased shares of the company in 2018 and became the sole director. In 2019, it is alleged the former director, without notice, obtained and registered a mortgage on title to the company’s property. The company became embroiled in various lawsuits, which resulted in its inability to pay its debts as they became due. Management determined it was unable to continue the company’s operations. BDO is the bankruptcy trustee. Counsel is WeirFoulds for the trustee and DH Professional Corporation for the company.
By Dina Milivojevic