Europa 2022 Inc., which owns two properties in Niagara Falls, Ontario, was placed into receivership on July 8 on application by Romspen Investment Corporation, owed approximately $5.7 million.

Romspen advanced a loan to the company in 2022 to allow it to purchase the properties — a partially complete multi-block assembly located west of the Niagara River Parkway. The company has defaulted on the loan, including by failing to repay the loan on maturity. Romspen agreed to forbear until the end of May, but the company failed to pay.

Rosen Goldberg is the receiver.

Counsel is Blaney McMurtry for Romspen, Dickinson Wright for the receiver, Just Fides for the company, Harvey Mandel for Quid Pro Quo Capital, and Gowling WLG for Andrezj Kepinski.