Aird & Berlis Represents Investors in Sussman Mortgage Funding Receivership Proceedings

On May 20, 2025, the Ontario Superior Court of Justice (Commercial List) appointed Aird & Berlis LLP as Representative Counsel to investors in connection with the receivership proceedings involving Sussman Mortgage Funding Inc. (“SMFI”), 2486976 Ontario Inc. and 1981361 Ontario Inc. The appointment followed the court’s order appointing GlassRatner Inc. (formerly B. Riley Farber Inc.) as receiver over the assets, undertakings and properties of SMFI and related companies on application by the Financial Services Regulatory Authority of Ontario under the Mortgage Brokerages, Lenders and Administrators Act, 2006 and the Courts of Justice Act.

The receivership arose following allegations of serious wrongdoing and multiple legal proceedings involving approximately $100 million in investor claims. Aird & Berlis was appointed to represent investors who invested in mortgages brokered and administered by SMFI pursuant to written, oral, express or implied investor agreements.

Aird & Berlis continues to act as Representative Counsel to the investors with a team including Steven Graff, Matilda Lici and Cristian Delfino (Financial Services).