December 4, 2019

Filing Type:

Company Counsel: Jerome Stanleigh

Trustee: KSV

Trustee Counsel: GSNH

Applicant: ECN Financial

Applicant Counsel: Miller Thomson



Rando Drugs, owner of four pharmacies in Southwestern Ontario, was placed in receivership on December 4 on application by ECN Financial, owed approximately $4.1 million. Operating under a forbearance agreement since July 2019, the company had until the end of the year to refinance its debts or sell the pharmacies and pay out ECN. but it has not been able to do either. In late November, ECN learned that the landlord had purported to terminate the lease for one of the company's Windsor locations, effective December 31, 2019. The company did not disclose this to ECN for over two months. Having lost faith in the company, which had breached several covenants of the forbearance agreement, ECN moved for a receiver to be appointed to run an open and transparent sales process for the pharmacies. KSV was appointed receiver. Counsel is Miller Thomson for the applicant, Jerome Stanleigh for the company and GSNH for the receiver.