Coromandel Wilmar Development BT Ltd., Coromandel Wilmar Limited Partnership and Coromandel Wilmar Development Ltd., Receivership

Coromandel Wilmar Development BT Ltd., Coromandel Wilmar Limited Partnership, and Coromandel Wilmar Development Ltd., Vancouver, British Columbia-based companies developing a heritage property and five infill homes in Vancouver, were placed in receivership on September 13 on application by Accountable Mortgage Investment Corp., owed approximately $24 million. Earlier this year, the broader group of Coromandel companies had sought CCAA protection but discontinued the proceedings after reaching agreements with lenders on the majority of its projects. MNP was appointed receiver. Counsel is Owen Bird for the applicant and Lawson Lundell for the receiver.

By: Dina Milivojevic