April 3, 2019
Eco Energy Home Services, a Toronto, Ontario-based provider of HVAC units and other home appliances and services, was placed in receivership on April 3 on application by EcoHome Financial ("EcoHome"), owed approximately $1.6MM. EcoHome provided financing to the debtor's customers pursuant to a consumer lease program agreement. In the spring of 2017, EcoHome learned that the debtor was in breach of this agreement by, among other things, accepting certain trust funds from customers and failing to remit the funds to EcoHome. Efforts to confirm the exact amounts owing and enter into a payment plan were unsuccessful, leading to the decision by EcoHome to enforce its security. RSM was appointed receiver. Counsel is Aird & Berlis for the applicant and Gowling WLG for the debtor.