On March 1, the Ontario Superior Court of Justice appointed MNP Ltd. as the Receiver for Textbook Ross Park Inc., the company that proposed to build student suites in the Ross Park Project.
The Receiver has been advised that all deposits were placed in trust, as required by law. The Court also approved MNP selling the land and assets to another real estate company that intends to return the deposits paid by purchasers of the Ross Park condominiums.
For more information, please read this notice from the Receiver.
Additional Information on Condominium Cancellations
If you are a new home buyer affected by a condominium cancellation, it is important to understand your rights. Please visit our Condominium Cancellations page for detailed information on terminated purchase agreements, deposit refunds, and Tarion's process for reviewing condominium cancellations.