Diamond Luxury Developments Corp.

Diamond Luxury Developments Corp. was placed into court-appointed receivership by order of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) on July 24, 2026, under BIA s. 243 and the provincial Judicature Acts, in court file CV-26-00000762-0000. The proceeding remains active. The Toronto-Dominion Bank holds secured claims against the debtor of $263,482.37 as at January 27, 2026, comprising an operating facility of $211,552.71 and a credit card facility of $51,929.66 under a November 1, 2024 all-property general security agreement, and a further $514,681.28 as at the same date under a June 7, 2021 security agreement securing a HASCAP credit agreement with a loan amount of $770,000.00. Both are also secured by the unlimited personal guarantee of director Imran Ali Ahmed. The Canada Revenue Agency asserts a deemed trust claim of $52,332.95 for unpaid employee source deductions, having issued a Requirement to Pay to the Bank dated November 19, 2025.