Maplequest Ventures Inc. and Digram Developments Caledon Inc., Receivership

Maplequest Ventures Inc. and Digram Developments Caledon Inc., residential real estate development companies with projects being developed in Brampton and Caledon, had a receiver appointed over various of their properties on June 26 on application by KingSett Mortgage Corporation and First Source Financial Management Inc. owed approximately $90 million.

The loans matured in March and May but have not been repaid despite demands for payment and notices of intention to enforce security. 

KSV is the receiver.

Counsel is Osler for KingSett and First Source, Bennett Jones for the receiver and Pallett Valo for a lien claimant.