9089802 Canada Corp. et al.

9089802 Canada Corp., together with seven related corporations including Sepitman Canada Corp., 8637989 Canada Corp., 2404685 Ontario Inc., Luloo Homes Inc., Teksun Inc., 2717852 Ontario Corp. and 2717740 Ontario Ltd., has been under the receivership of KSV Restructuring Inc. since August 28, 2025, on the application of Laurentian Bank of Canada under section 243(1) of the BIA and section 101 of the Courts of Justice Act (Ontario Superior Court of Justice, Commercial List, CV-25-00747532-00CL). The principal asset is a 2.55-acre property in Richmond Hill contemplated for 49 townhomes; no construction had begun, and 44 pre-construction purchase agreements had drawn buyer deposits totalling approximately $7.6 million, all of which had been spent on pre-construction phases. On October 10, 2025 the Court approved a phased sale process with Jones Lang Lasalle as listing agent.