On August 27, 2024, 13995291 Canada Inc., the owner of a two-tower office property at 95-105 Moatfield Drive in Toronto, was placed in receivership following an application by Bank of China (Canada). The bank, owed approximately $60 million, initiated the proceedings after the debtor, a wholly owned subsidiary of Visionary Holdings, a NASDAQ-listed technology education company, defaulted on its loan. The default had been ongoing since at least March 2023, and the bank's demand letter notice periods had expired without resolution. Ernst & Young (EY) was appointed as the receiver for the property. Legal advisors involved included Blakes for Bank of China (Canada), THC Lawyers for the debtor, Aird & Berlis for the receiver, BLG for Hitachi Rail GTS Canada, Cassels for 1000386642 Ontario, and WeirFoulds for Arguson Projects.