MNP appointed in receivership of Genesis senior care companies

By Order of the Ontario Superior Court of Justice dated October 2, 2025, MNP Ltd. was appointed as receiver, manager, and sales agent of Genesis Comfort Care Inc. (“GCC”) and Genesis Terrace Retirement Home Inc. (“GTRH”), following an application by secured creditor Royal Bank of Canada. GCC provides in-home personal support worker services to seniors across Southwestern Ontario, while GTRH owns and operates a retirement residence at 1360 Maryhill Road, Maryhill. RBC is owed approximately $2.57 million under a 2023 general security agreement and a $2.625 million mortgage registered in August 2024 over the Maryhill property.

The companies purchased and began renovating the Maryhill facility in 2024 but encountered significant cost overruns and delays, leading to defaults under their financing agreements. The receivership order authorizes MNP to monitor operations and conduct a sale process for the assets, though it does not confer possession or operational control of either business. Harrison Pensa LLP represents Royal Bank of Canada.