H-M Apartment Moccasin Inc., the owner of two properties in Toronto that are the site of a potential real estate development (collectively, the “Property”), and Hampton-Metrix Apartment 2006 Limited Partnership, the beneficial owner of the Property, had a receiver appointed over the Property on March 15.

The receivership application was brought by First Source Financial Management Inc., owed approximately $23.4 million. The loan, which was initially advanced in 2016, matured in July 2023 but has not been repaid.

TDB Advisory is the receiver.

Counsel is Paliare Roland for First Source.

By: Dina Milivojevic