September 18, 2020
Turuss (Canada) Industry Co., Ltd., a Chesley, Ontario-based company which historically operated as a hardwood flooring manufacturer and distributor, was placed in receivership on September 18 on application by Pillar Capital Corp. ("Pillar"), owed approximately $2.0 million. Given that the company's flooring business is no longer operational, the company is now effectively a real estate holding company whose sole purpose is to own and manage its industrial facility in Chesley, Ontario. After the final debt repayment date passed, the company's sole director, Yang Jiang, stopped responding to any communications from Pillar's representatives. The current whereabouts of Ms. Jiang are unknown, and further attempts to contact her have been unsuccessful. MNP was appointed receiver. Counsel is Gowling WLG for Pillar and Dentons for the receiver.