October 27, 2020

Filing Type:

Company Counsel: Friedmans Law Firm

Trustee: RSM

Trustee Counsel: Torkin Manes

Applicant: First Source Financial Management Inc. ("First Source")

Applicant Counsel: Paliare Roland



Unionville Re-Dev Corporation, Unionville Re-Dev Phase 2 Corporation, AND Blacksmith Partners Inc., which collectively own the properties municipally known as 160, 162, 166, 170, 174-178, and 186 Main Street, Unionville, Ontario (the "Property"), had their Property placed in receivership on October 27 on application by First Source Financial Management Inc. ("First Source"), owed approximately $14.2 million. The Property is comprised of numerous buildings with various tenants that operate businesses such as restaurants, retail stores, law firms, and pharmacies. The companies, which have been unable to repay their indebtedness to First Source or obtain a commitment for new financing, also owe substantial arrears of property taxes to the City of Markham. Counsel is Paliare Roland for the applicant, Torkin Manes for the receiver, and Friedmans Law Firm for the companies.