Canadian Tax & Financial Services Inc. operating as ASK Associates, and 2691855 Ontario Inc., Receivership

Canadian Tax & Financial Services Inc. operating as ASK Associates, a Pickering, Ontario-based accounting firm, and 2691855 Ontario Inc., which owns real property located at 720 Sheppard Avenue, Pickering, Ontario, including a commercial office building partially occupied by Canadian Tax & Financial Services, were placed into receivership on June 16 on application by Canadian Western Bank, owed over $4.2 million.

The bank advanced a loan to the companies in May 2023. In November 2024, the bank sent a non-renewal notice and demanded payment, which has not been made. The companies have been attempting to refinance the loan since November 2024, but they have not been able to do so.

EY is the receiver.

Counsel is Chaitons for CWB and Wray Legal for the companies.