July 21, 2022
Main Infrastructure Ltd., Kstone Investment Corporation and 2666492 Ontario Ltd., Vaughan, Ontario-based construction companies, were placed in receivership on July 21, on application by RBC. RBC holds judgments against the companies and their principal totaling an aggregate of $1,203,337.25 plus accruing interest and costs on a substantial indemnity scale. The judgments also provide for possession of the personal property of the companies pursuant to the GSA held by RBC. Main Infrastructure and Kstone have continued to operate, but Main Infrastructure has accumulated HST arrears in excess of $860,000.00. Grant Thornton was appointed receiver. Counsel is Flett Beccario for RBC and RAR Litigation for the companies.
By Dina Milivojevic