Vandyk-Backyard Queensview Limited & Vandyk-Backyard Humberside Limited

Vandyk-Backyard Queensview Limited and Vandyk-Backyard Humberside Limited were placed in court-appointed receivership by order of the Ontario Superior Court of Justice dated February 6, 2024, on the application of Peoples Trust Company and Firm Capital Mortgage Fund Inc., under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. RSM Canada Limited was appointed receiver and manager under court file CV-24-00713783-00CL. Peoples Trust Company and Firm Capital Mortgage Fund Inc. hold a first mortgage under which $12,000,201.89 is owed, with interest accruing at approximately $95,000 a month. Numerous construction liens have been registered against the Queensview property, the largest by Urban Mechanical Contracting Ltd. at $2,282,408.34 and Foremont Drywall Highrise at $1,845,369.24, their priority not yet determined. The receivership remains active.