Con-Tech Systems Ltd., Receivership

Con-Tech Systems Ltd., a Delta, British Columbia-based geo-support solutions and construction technology systems supplier which provides specialized construction materials, systems, and support for projects across North America, was placed into receivership on August 30, 2023, on application by the Estates of Horst Aschenbroich and Hildegard Aschenbroich, owed approximately $7 million. For several years, Con-Tech has suffered financial difficulties and operated at a loss. In June 2023, Horst Aschenbroich, the sole director, officer, and source of funding for the company passed away, leaving the company with no additional funds to borrow. MNP was appointed receiver. Cassels is counsel to the petitioners, McCarthy Tétrault is counsel to the receiver, Deol Lawyers is counsel to Aventus Capital Corporation, and Farris is counsel to Lanyard Investments Inc. in its capacity as general partner of LFC Webster 19 Limited Partnership.

By: Dina Milivojevic