Triumph Development HK Bradford Twin Regency Inc.

Triumph Development HK Bradford Twin Regency Inc. is under court-appointed receivership in the Ontario Superior Court of Justice (Commercial List), Court File No. CV-22-00677227-00CL, with BDO Canada Limited as receiver and the proceeding active since March 1, 2022. The receivership was sought by second mortgagee Prudent Excellence Mortgage Investment Corporation under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, following a demand letter of October 25, 2021 claiming $603,695 and a Notice of Sale dated November 4, 2021 for $622,135 under its second charge registered March 5, 2021. The property is also subject to a Vander Kooij vendor-take-back first mortgage, on which a Notice of Sale dated February 3, 2022 claimed $2,067,684.93 payable in full by March 10, 2022, and to construction liens registered by Delbrook Triumphant Builders Inc. ($1,404,036.78) and 10853828 Canada Inc. ($1,870,538.95), both of which Triumph disputes.