December 3, 2018
Atlas Healthcare (Richmond Hill), a group of entities working to develop a six-story medical office building in Richmond Hill, Ontario, was placed in receivership on December 3 on application by Romspen, owed approximately $81.0MM. The project is behind schedule and over budget by approximately $39.0MM. The debtors' attempt to obtain creditor protection under the CCAA was denied in favour of the receivership. EY was appointed receiver. Counsel is Dickinson Wright for Romspen and Blaney for the receiver.