TrinityStar Developments Inc.

TrinityStar Developments Inc. has been in court-appointed receivership under BIA s. 243 since October 10, 2025, on the application of its construction lender, Cameron Stephens Mortgage Capital Ltd. The lender advanced under an August 24, 2022 commitment letter for a $29,000,000 facility ($26,500,000 construction and $2,500,000 letters of credit), secured by a charge registered May 31, 2023 for a principal amount of $31,900,000 and a November 28, 2022 general security agreement. The loan matured June 1, 2025 unpaid, and demand and a notice of intention to enforce security followed on August 15, 2025; the mortgage statement shows $19,004,594.12 outstanding as at September 29, 2025. Construction liens totalling $8,871,046 were registered against the real property as at September 24, 2025, the largest being Fusioncorp Developments Inc. at $5,079,627. Pollard Windows Inc., holding a $139,190 lien against Lot 4, asserts full priority over the lender's mortgage, a claim in dispute. The Receiver has consented to the issuance of statements of claim to preserve lien rights, with no further steps absent further court order. Royal Bank of Canada holds a PPSA registration against accounts, second in registration order, in an amount not disclosed. Dunstan Peter, the Debtor's principal and sole director, personally guaranteed the loan.