Laurentel Secures Appointment of Receiver for Pro/Com Realty Corp. and 1983880 Ontario Inc.
On
January 16, 2025, Laurentel Developments et al. (collectively, “Laurentel”)
successfully obtained the appointment of MNP as receiver of all of the assets,
undertakings and properties of Pro/Com Realty Corp. and 1983880 Ontario Inc.
(together, the “Respondents”), that operated as a privately-owned
real estate investment venture, holding property outside of Ottawa.
The
Respondents defaulted on their obligations to Laurentel by failing to repay
their outstanding mortgage commitment. The court determined that the
appointment of a receiver was necessary to protect the property and the
interest of Laurentel, as well as to honour a consent agreement that was
similarly negotiated by Aird & Berlis counsel.
Aird & Berlis acted for Laurentel with a team led by Shaun Parsons (Financial Services) and including Josh Suttner (Litigation) and Alexandra Raponi (Real Estate).
