January 9, 2020
Gestion Knighstbridge, a Montreal, Quebec-based residential real estate developer, was deemed bankrupt on January 9, listing $2.9 million in liabilities, including $373.6 thousand to RBC. The company had previously filed an NOI on November 15. The company attributes its financial difficulties to numerous factors that negatively impacted its cash flow, including delays in obtaining approvals from municipal authorities which postponed the launch of ongoing projects; an increase in construction costs and shortage of skilled labour; and cost overruns on certain projects. Richter is the bankruptcy trustee.