Representative Matters
Business Development Bank of Canada Secures Appointment of Receiver for 2868335 Ontario Inc.
On July 3, 2025, 2868335 Ontario Inc. (the "Debtor") was placed into receivership following an application by Business Development Bank of Canada ("BDC"). The appointment was made by the Ontario Superior Court of Justice (Commercial List) under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act.
BDC appointed Grant Thornton Limited as receiver of the assets, undertakings and properties of the Debtor after it defaulted on its payment obligations in the amount of $14.7 million. This included two real properties provided as security in favour of BDC under the Personal Property Security Act.
Aird & Berlis represented BDC with a team including Kyle Plunkett and Shaun Parsons (Financial Services).
