Clearview Garden Estates Inc. et al., a group of companies formed to hold title to various land banking projects in Ontario, were placed into receivership on March 6 on application by members of the Kobayashi family and their company (the “Kobayashi Group”), which hold fractional undivided beneficial interests in each of the projects ranging between approximately 3%-72%.

The Kobayashi Group, which invested over $21 million in the projects, accuses the companies and their directors of misconduct, mismanagement and breaches of trust. In February, the companies sold a property which is 72% owned by the Kobayashi Group without its consent.

KSV is the receiver.

Counsel is Bennett Jones for the Kobayashi Group, Aird & Berlis for the receiver, Simpson Wigle for Trans Global Partners et al., Brar Tamber Rigby Badham for First Global Financial Corp. et al., McKenzie Lake for a purchaser and prospective purchaser, and Gardiner Roberts for Pam Hundal and Parminder Hundal Law.