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The court appointed a limited interim receiver over a defendant corporation due to strong evidence of fraud and the defendants' failure to comply with disclosure orders.
The plaintiff condominium corporation sought the appointment of an interim receiver over one of the defendant corporations (2502511 Ontario Corp.) and the continuation of a Mareva injunction, alleging fraudulent depletion of its reserve account.
The defendants opposed the receiver appointment and sought the lifting of the Mareva injunction.
The court found a strong prima facie case of fraud and noted the defendants' non-compliance with disclosure obligations and previous court orders.
Given the significant risk of asset dissipation and the defendants' failure to operate transparently, the court granted the plaintiff's motion for a limited interim receiver over 2502511 Ontario Corp. and extended the Mareva injunction, while authorizing a reduced monthly living expense for one defendant.
