July 31, 2019
Ajax Petroleum, an Ajax, Ontario-based gas station operator and commercial property owner, was placed in receivership on July 31 on application by BDC, owed approximately $8.5 million. BDC alleges that the debtor made material misrepresentations regarding the purpose of the loan and its business operations, falsified a commercial lease and provided sham financial statements. msi Spergel (GRIP) is the receiver. Counsel is Chaitons for the applicant and Sherman Brown for the company.