February 12, 2021
2660807 Ontario Inc., a Brampton, Ontario-based company that operated an Esso gas station and Pizza Pizza restaurant in Tecumseh, Ontario, had its assets and real property placed in receivership on February 12 on application by RBC, owed approximately $2.6 million under a Letter Agreement between the parties, as amended by further agreements (collectively, the "Letter Agreement"). As a result of various events of default by the company under the Letter Agreement, RBC has demanded repayment of the indebtedness. The company, which ceased operations on February 5th, has indicated that it wishes to "hand over the keys" to its business to RBC. BDO was appointed receiver. Counsel is Harrison Pensa for RBC, Flett Beccario for the receiver, and Yonge-Norton Law Chambers for the company.