September 11, 2018
Sameh Sadek, an individual based in Brampton, Ontario, had his domestic assets, undertakings and properties, including several pharmacies, placed under receivership on September 11 on application by AstraZeneca Canada. The applicant anticipates that the receiver will exercise its powers to investigate and trace the substantial funds which appear to have been transferred out of Sadek's accounts to other local and overseas accounts, including to Egypt. The receiver will also secure and take possession of Sadek's assets, including two residential homes, and then commence a process to market and sell those assets. Alvarez & Marsal was appointed receiver. Counsel is Blakes for the applicant and Aird & Berlis for the receiver.