This company and its principals owned five commercial properties located in the Greater Toronto Area. The properties offered a mix of store front retail and office space.
The company’s principal difficulties were triggered by a dispute amongst its shareholders concerning their ownership interests. Given our experience in the sector and ability to manage divergent interests, counsel to one of the shareholders sought our appointment by the Court as Receiver. In that role, we carried out a process to sell the properties, negotiated multiple offers and realized proceeds in excess of $28 million. As part of our mandate, we worked closely with real estate appraisers, agents and environmental assessment experts. Our credibility with the Court was an integral component in resolving the acrimony among the shareholders.