Calibrex Development Group Inc. et al., Receivership

Calibrex Development Group Inc. et al., a group of real estate holding entities with nine properties in Niagara Falls, Ontario, were placed into receivership on July 31 on application by 1001116006 Ontario Inc. (the “Lender”), an entity connected to Dunn Capital, HarbourEdge Mortgage Investment Trust and Don Ierullo Investments, owed approximately $19.7 million.

The Lender was incorporated for the purpose of purchasing the debt and enforcing the security under the loans, which were initially advanced in 2021. Calibrex has failed to make any interest payments due under the loans since December 2024.

Grant Thornton is the receiver.

Counsel is Cassels for the receiver and Polley Faith for the Lender.