November 19, 2018
Forma-Con, a Concord, Ontario-based affiliate of Bondfield, a major Ontario-based construction company, was placed in receivership on November 19 on application by Bridging Finance as agent for 2665405 Ontario. Certain specific, non-core assets of Bondfield, as well as the real property known municipally as 131 Saramia Crescent in Vaughan, Ontario are also subject to the receivership order. Bondfield continues to operate in the normal course and is not subject to the receivership order. KSV was appointed receiver. FAAN Advisors is a financial advisor to Bondfield. Counsel is Goodmans for the applicant, Torys for the receiver, BTZ for the directors and officers of Bondfield, Osler for Bondfield, BLG for Zurich Insurance Company, McCarthy Tétrault for BMO and TD, each as agent, Chaitons for BMO, as agent, Koskie Minsky for LIUNA Local 506 and IUOE Local 793 and Cassels Brock for Infrastructure Ontario. The receivership application materials are sealed.