Legacy Lifestyle Destin Limited Partnership and certain other companies

Legacy Lifestyle Destin Limited Partnership and certain other companies had five of their Florida properties placed in receivership on February 11 on application by various investors in the properties. It is hoped that the receiver will be able to refinance the properties rather than sell them over the next six months, resulting in enhanced value to investors. The receiver will retain Cohen Hamilton Steger & Co. as an inspector to examine how the investors’ funds have been spent. Zeifman was appointed receiver. Counsel is Zweig Estate Litigation, Millars Lawyers and Bresver Grossman Chapman & Habas for various investors; Katzman Litigation for certain intervening investors; Dentons for the receiver; and Cassels for the inspector. By Dina Milivojevic

2545174 Ontario Inc.

2545174 Ontario Inc., the owner of a property municipally known as 478-494 Kingston Road, Pickering, Ontario, was placed in receivership on application by Equityline Mortgage Investment Corporation and certain other creditors, collectively owed approximately $9.0 million. The property consists of a gas station with a Tim Hortons kiosk and a three storey office building. The company was previously put into receivership in 2019 after it failed to repay the indebtedness owing to Centurion Mortgage Capital with respect to a commercial loan that had matured. The company was able to execute a refinancing plan and have the receiver discharged in 2020. Further defaults have occurred, however, and the current consortium of lenders sought the reappointment of a receiver so that the property can be sold through a court-supervised sales process. BDO was appointed receiver. Counsel is Robins Appleby for the applicant, David Seed for the company and Schneider Ruggiero for iCapital Financial Services Corp.. By Dina Milivojevic

Saptashva Solar S.A.

Saptashva Solar S.A., a Spanish corporation that is extra provincially registered in the Province of Ontario with offices in Madrid, Spain and Concord, Ontario, was placed in receivership on January 24, on application by 1199403 Ontario Inc., 1274442 Ontario Inc., and Gulu Thadani (collectively, the "Lenders"). The company owns and operates nine solar projects comprised of physical structures along with corresponding revenue generating Feed-in-Tariff Contracts granted by the Ontario Power Authority (now known as the Independent Electricity System Operator). The Lenders advanced two loans to the company in 2014 and 2015. The purpose of these loans was for the construction, reconstruction, and repair of solar projects that were damaged by a windstorm in respect of which the company required an advance on an insurance claim in order to ensure that the solar projects were made operational. Although the exact amount owing to the Lenders under the loans is in dispute, there was evidence before the Court that at least $400,000 plus interest was advanced and is owing. Ira Smith Trustee & Receiver was appointed receiver. Counsel is Stephen M. Turk for the Lenders and Morrison Law for the company.

Areacor Inc.

Areacor Inc., the owner of property municipally known as 15 Cannon Street West, Hamilton, Ontario, was placed in receivership on January 13, on application by MarshallZehr Group Inc. ("MarshallZehr"), owed approximately $6.9 million. The company acquired the property to develop it as a six-storey condominium project consisting of 40 residential units and commercial space on the ground floor. In 2018, MarshallZehr agreed to provide financing to the company to refinance its existing land loan and provide construction financing for the development. The construction of the development was initially estimated to be completed by November 2019. However, the development experienced significant delays and construction effectively ceased in June 2021. RSM was appointed receiver. Counsel is Chaitons for MarshallZehr and RAR Litigation Lawyers for the company. By Dina Milivojevic

Sonact Group Ltd.

Sonact Group Ltd., a Montréal, Québec-based company, was adjudged bankrupt on January 5, on application by Premuda SPA, an Italian maritime freight transportation business. In 2015, Premuda obtained an arbitration award and costs in the UK against the company for demurrage and heating costs which had accrued under a charterparty in connection with Premuda's charter of a vessel to the company to carry a cargo of fuel oil from Kavkaz to Nakhodka, Russia. Following an unsuccessful appeal, the company owed approximately $1.25 million to Premuda. After making various unsuccessful demands for payment and attempting to enforce the arbitration award and costs awards, Premuda brought a bankruptcy application. MNP is the bankruptcy trustee. Counsel is Clyde & Cie Canada for Premuda. By Dina Milivojevic

13364097 Canada Inc. and Bao Ying Cao (collectively, the “Applicants”)

13364097 Canada Inc. and Bao Ying Cao (collectively, the "Applicants") had a receiver appointed over certain funds (the "Contested Funds") on December 7. According to their factum, the Applicants are the innocent holders of approximately $1.3 million worth of Contested Funds as a result of a scheme (the “Sunrise Technology Scheme”) operated by the respondent Xiaodong Yang, which they now understand was a fraud. The Sunrise Technology Scheme involved the respondent Users of Sunrise Technology sending funds to the Applicants’ bank accounts under false pretenses. The Applicants sought an interpleader and receivership order to identify, account for, and distribute the Contested Funds back to those entitled to them. BDO was appointed receiver. Counsel is Polley Faith for the Applicants. By Dina Milivojevic

The Roman Catholic Episcopal Corporation of St. John’s (the “Episcopal Corporation”)

The Roman Catholic Episcopal Corporation of St. John's (the "Episcopal Corporation"), the legal entity of the Archdiocese of St. John’s, Newfoundland, filed an NOI on December 21, listing $2.94 million in liabilities. In July 2020, the Newfoundland and Labrador Court of Appeal found that the Episcopal Corporation was liable for sexual abuse committed by the Christian Brothers at Mount Cashel Orphanage in the 1950s. The case featured four victims who served as test cases for about 60 cases in total. The Supreme Court denied leave in January 2021. EY is the proposal trustee.

Avi Life-Lab Inc.

Avi Life-Lab Inc., a Montreal, Quebec-based full service analytical testing laboratory, was placed into bankruptcy on December 15, 2021, on application by Concentric Agriculture Inc., the company's landlord. The company has repeatedly defaulted on its obligations under the lease and it has failed to pay rent for the months of July, August and September. In addition, in late July 2021, the company's CEO was indicted and arrested in the US for illegally exporting laboratory equipment to Iran. MNP is the trustee. Counsel is BLG for Concentric.

Community Marine Concepts Ltd., Victoria International Marina Ltd., Eternaland Yuheng Investment Holding Ltd., and 0736657 B.C. Ltd.

Community Marine Concepts Ltd., Victoria International Marina Ltd., Eternaland Yuheng Investment Holding Ltd., and 0736657 B.C. Ltd., Vancouver Island, British Columbia based companies, were placed in receivership on December 13, on application by the Bank of Nova Scotia. The Bank provided the companies with a non-revolving term loan in the principal amount of $17,080,000 to provide bridge financing for the construction of a luxury yacht center in Victoria Harbour on Vancouver Island known as the Victoria International Marina. As at August 2021, when the petition was initially filed, the companies had been in default of their payment obligations for 15 months and remained indebted to the Bank in the amount of approximately $15.5 million, excluding fees and interest. The receivership order was granted on November 1 and provided that the companies would automatically be placed in receivership on December 13 unless the debt to the Bank was repaid in full prior to that date. Alvarez and Marsal was appointed receiver. Counsel is Blakes for the Bank and Crystal Law for the companies.

665-671 Sheppard Avenue West Ltd.

665-671 Sheppard Avenue West Ltd., the owner of four adjoining parcels of land comprised of four unoccupied single family homes with frontage on Sheppard Street in Toronto (the "Mortgaged Property"), had a receiver appointed on December 6, on application by Dorr Capital, owed approximately $8.1 million. The proposed development on the Mortgaged Property is a five-storey residential building with 56 units. The company defaulted on its interest-only payments to Dorr Capital and allowed a lien to be registered on title to the Mortgaged Property. Rosen Goldberg was appointed receiver. Counsel is Blaney McMurtry for Dorr Capital and Dickinson Wright for the receiver.