June 14, 2018

Filing Type:

Company Counsel: DJD Law and Morganti & Co.

Trustee: Rosen Goldberg

Applicant: Owemanco Mortgage Holding Corporation

Applicant Counsel: GSNH

Industry:

Province:

Syrion Corporation, a Toronto, Ontario-based research and development company, had its property municipally known as 61 Balmoral Avenue,Toronto, Ontario placed in receivership on June 14 on application by Owemanco Mortgage Holding Corporation, owed approximately $2.2MM. In 2017, Ontario Wealth Management Corporation, a related entity to Owemanco, agreed to fund a construction loan to the company for a three-story single-family dwelling. The loan has been in financial default since May 2018, and the company is unable to continue construction on the property or sell the property as is. Rosen Goldberg was appointed receiver. Counsel is GSNH for the applicant and DJD Law and Morganti & Co. for the company.