2557386 Ontario Inc. and 2363823 Ontario Inc., Receivership

2557386 Ontario Inc. and 2363823 Ontario Inc., members of the Mariman Homes group of companies, custom home builders in the Hamilton, Ontario area, were placed in receivership on January 16, on application by Marshallzehr Group, owed approximately $15.1 million.

255 owns property located in Haldimand, Ontario intended for the development of 66 detached custom estate homes known as the “Grand York Estates”.

Marshallzehr Group provided a loan to 255 to finance the development, and 236 guaranteed the loan. The companies have defaulted on the loan from Marshallzehr, including by failing to pay interest when due, breaching their reporting obligations and making misleading statements on their mortgage application.

KSV was appointed receiver.

Counsel is Chaitons for Marshallzehr and Scarfone Hawkins for the companies.

By: Dina Milivojevic