1000200839 Ontario Inc., Receivership

1000200839 Ontario Inc., the owner of 43 residential lots in LaSalle, Ontario known as the “Trinity Lots,” was placed into receivership on May 20 on application by Windsor Family Credit Union Limited (“WFCU”), owed approximately $6.9 million under two loan facilities advanced in 2023 to finance the purchase of the lots.

The company failed to construct or sell the vast majority of the lots, selling only two semi-detached homes over two years, and fell into default under both its senior obligations to WFCU and its junior obligations to second mortgagee Trinity Woods Inc. and related creditor Silver Leaf Rock Developments Inc.

WFCU demanded repayment in April 2025 after interest payments were returned NSF and defaults under other financings triggered cross-defaults.

The second mortgagee Trinity Woods supports the receivership.

TDB Restructuring is the receiver.

Counsel is Fogler Rubinoff for WFCU and Miller Thomson for Silver Leaf.