Virk Hospitality Corp.

Virk Hospitality Corp. was placed into receivership on July 23, 2018, when the Ontario Superior Court of Justice granted an application by the Ontario Securities Commission appointing Grant Thornton Limited receiver and manager under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The company was assigned into bankruptcy on May 25, 2020, at 16:24, with Grant Thornton Limited continuing as trustee under section 49 of the BIA. Its Statement of Affairs, as at May 22, 2020, reported total assets of $71,000.00 against total liabilities of $13,267,797.47, a deficiency of $13,196,797.47, with Silverfern Secured Mortgage Limited Partnership holding a secured claim of $11,606,586.00.