1429523 Ontario Limited

1429523 Ontario Limited has been under court-appointed receivership in Ontario since February 21, 2020, when the Ontario Superior Court of Justice appointed MNP Ltd. as receiver on the application of Lee Terrace Developments Inc. under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in Court File No. CV-20-00636387-00CL. The receivership is confined to the debtor's Real Property. Security over that property is asserted by the City of Toronto and by Lee Terrace Development Inc., the latter in the amount of $473,142 as at the date of appointment. The Receiver has been unable to obtain the company's books and records and has not obtained an appraisal, and so expresses no opinion on the value of the Real Property. The proceeding remains active.