Canada recognizes UK administration of 79th Group and Appoints TDB Restructuring as receiver of Canadian mining entities

The Ontario Superior Court (Commercial List) has formally recognized the UK administration of the 79th Group (which we wrote about HERE and HERE) as a foreign main proceeding and simultaneously appointed TDB Restructuring Limited as receiver over four Canadian corporations linked to the now collapsed cross-border investment scheme. Justice Dietrich issued both the Initial Recognition Order and Supplemental Order on 19 November 2025, granting broad authority to protect and preserve Canadian assets while the UK administrators continue their investigation into what they describe as “widespread fraud” within the group.

The ruling caps a turbulent year for the 79th Group, an interconnected structure of more than 55 companies headquartered in Southport, United Kingdom and controlled by David, Jake and Curtis Webster. According to evidence before the court, the group operated an international investment platform that claimed to acquire and manage undervalued real estate and natural resource assets. Police action in February 2025 triggered the downfall, when the City of London Police arrested the Websters and Chief Executive Officer Natalie Bellis, leading to the unraveling of the group’s operations.

UK administration proceedings began in April and May 2025 when the Courts of England and Wales appointed Jeremy Woodside and Tracey Pye of Quantuma Advisory as administrators of central operating entities. A further order dated 28 May 2025 added Kroll Advisory’s Robert Goodhew and Andrew Stoneman as joint administrators. They later filed a Statement of Proposals on 18 June 2025 concluding that the business could not be restructured and that the best outcome for creditors would be achieved by realizing the group’s assets. The UK Court also granted a worldwide freezing injunction on 24 October 2025 restricting the Websters from dealing with assets up to 38 million.

The Canadian component of the enterprise includes four corporations: 79th GRP Ltd., Lusso Tesoro Ltd., Seventy Ninth Corporation, and 79th Resources Ltd. These entities were incorporated between Ontario and Nova Scotia and were intended to acquire mining claims and pursue listings on Canadian exchanges. At least £6.5 million in investor funds flowed into 79th GRP Ltd., though administrators have been unable to confirm how these funds were used due to missing and incomplete records. Additional concerns arose because certain mining claims were purchased with funds transferred from the UK parent and continue to be held in Canada.

The administrators sought Canadian recognition to secure these assets and prevent further dissipation. Justice Dietrich found that the United Kingdom is the centre of main interests for each debtor due to its headquarters, management activities and operational nexus. She therefore recognized the UK administration as a foreign main proceeding and issued a domestic stay preventing any action against the debtors or their property in Canada.

Concluding that investor funds were misused and that assets remained at material risk, the court granted the Supplemental Order appointing TDB Restructuring Limited as receiver over the Canadian entities. The receivership provides sweeping powers, including the ability to take possession of property, manage the businesses, review records, initiate litigation, sell assets, and borrow up to two hundred fifty thousand dollars through a court charged borrowing facility. Justice Dietrich held that the receivership was necessary to protect creditors, citing the Websters’ conduct, the worldwide freezing order already issued in the UK, and the absence of opposition from any Canadian entity.

Counsel is Goodmans for the UK administrators.