January 20, 2023
Les Investissements de L’Estrie inc. et al. ("Groupe Vertendre"), a Quebec-based group of companies operating in real estate development and short-term housing rental ecotourism, obtained CCAA protection on January 20. Groupe Vertendre's financial difficulties have been caused by rising construction costs, delays in obtaining permits in recent years, as well as a change in municipal by-laws, which have made it difficult to access some land and complete some development projects. Raymond Chabot was appointed as Monitor. Norton Rose Fulbright is counsel for Groupe Vertendre, McCarthy Tétrault is counsel for Investissement Québec, owed approximately $920,000, and BCF is counsel for McGuire Project Management Limited, owed approximately $6.1 million.
By Dina Milivojevic
