November 8, 2021
Riverside Professional Centre Inc., which owns a medical office building in Ottawa, had a receiver appointed over its properties on October 29, on application by The Manufacturers Life Insurance Company. The company has been in default of substantial municipal property tax obligations for two years. As a result of this failure, the company is in default not only of its agreements with Manulife, but also its ground lease for the building with The Ottawa Hospital, the lessor and owner of the land on which the building is situated. MNP was appointed receiver. Counsel is Miller Thomson for Manufacturers, Lerners for the company, Faskens for the receiver and BLG for The Ottawa Hospital.