Vertamin Real Estate Inc

Vertamin Real Estate Inc. has been under court-appointed receivership since November 8, 2016, when the Ontario Superior Court of Justice appointed MNP Ltd. as receiver on the application of the Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The proceeding is active under court file 16-70260. In its statement as of June 14, 2017, the receiver reported BDC secured claims of $2,113,737, held against a charge on 895 Montreal Road and an assignment of rents dated September 20, 2013 together with the personal guarantee of Raymond Kuate Konga, and $1,167,214 held against a charge on 1687 Montreal Road, a general security agreement and an assignment of rents dated October 31, 2012. The City of Ottawa was reported with secured claims of $40,000 and $49,000. CRA Legal Services, Kelly Santini LLP, Magenta Mortgage Corporation and TD Canada Trust were listed as other creditors at a nominal $1.00 each.