October 21, 2022

Filing Type:

Trustee: Rosen Goldberg

Applicant: Owemanco Mortgage Holding Corporation

Applicant Counsel: Dickinson Wright



Concept Lofts Ltd., the owner of a property municipally known as 1183 Dufferin Street, Toronto (the "Property"), a church converted to a residential condominium project, had an interim receiver appointed over the Property on October 21, on application by Owemanco Mortgage Holding Corporation, a secured creditor owed approximately $6.7 million. Construction on the Property is substantially complete. The loans have been in financial default since September 7, and the defaults have not been cured. In addition, on October 14, it became apparent that the Property is uninsured. Accordingly, Owemanco sought the urgent appointment of an interim receiver to take possession of the Property and insure it. Rosen Goldberg was appointed interim receiver. Counsel is Dickinson Wright for Owemanco.

By Dina Milivojevic