759 Winston Churchill GP Inc. et al., Receivership

759 Winston Churchill GP Inc. et al., the owners of lands located in Mississauga, Ontario intended for three real-estate development projects, were placed into receivership on May 30 on application by KingSett Mortgage Corporation.

KingSett provided loan facilities to fund the acquisition and development of the properties and development projects. As of January 2024, KingSett claims to be owed over $360 million.

The receivership application was originally returnable in February, and the companies brought a competing CCAA application at that time. The parties then entered into a forbearance agreement which ultimately expired, and the receivership order was made on consent.

KSV is the receiver.

Counsel is Bennett Jones for KingSett, McCarthys for the companies, Osler for the receiver, WeirFoulds for Nucor Rebar Fabrication, Norton Rose Fulbright for Kenaidan Contracting, Sutherland Law for Soilcan, Drudi Alexiou Kuchar for JC Infrastructure and Montana Electric, Kagan Shastri DeMelo Winer Park for Noram Glass and Harrison Pensa for TD Bank.