February 23, 2022

Filing Type:

Company Counsel: Miller Thomson

Trustee: Deloitte

Trustee Counsel: Cassels



Trinity Ravine Community Inc., a registered charitable organization whose primary business is the development of a real estate project known as Trinity Ravine Community in Scarborough, Ontario, obtained CCAA protection on February 23. The purpose of the project is to provide a community for senior citizen residents, with accessibility features and specialized amenities to enable its residents to “age in place”. There are a total of 439 purchasers in the project, and a total of approximately $27.6 million in deposits has been paid to the organization. Due to factors which include skyrocketing construction costs, delays and uncertainty caused by the COVID-19 pandemic, the project’s financial model is no longer viable. The company commenced CCAA proceedings to obtain the necessary breathing room to implement a dual track sales process and develop a plan to be put to creditors. Deloitte was appointed monitor. Counsel is Miller Thomson for the company, Cassels for the monitor and Dentons for Nahid Corp.

By Dina Milivojevic