Karwood Contracting et al.

Karwood Contracting Ltd., Karwood Ontario Ltd. and Karwood Engineering Inc. remain under CCAA protection, which began on February 3, 2025 with a stay that first ran to February 13, 2025. Further orders followed on February 20, June 30, October 1, October 24 and November 18, 2025, and the stay has been extended in successive steps to July 4, October 1, October 30, November 24 and now December 12, 2025. Management reports secured debt of approximately $1,300,000 to Libro Credit Union against two completed homes in Belmont and St. Thomas, Ontario; approximately $150,000 and $650,000 to BMO under a general security agreement and a Paradise, Newfoundland mortgage; approximately $650,000 to Boreal Atlantic Ltd. on Kenmount Road land; and a subordinated $160,000 mortgage held by Tammy and Randy Oram. Ford Credit Canada, Axiom Leasing and BMW Canada hold purchase money security interests. CRA asserts deemed trust claims against all three companies, with source deduction and HST amounts still being reconciled.