Seaway’s real property was approximately three acres and consisted of a gas station and commercial building. It was located just off Highway 401 in Cornwall, near the Canadian-U.S. border. Situated on the property is a Petro Canada gas station and space tenanted by Tim Hortons.
On application by Laurentian Bank, we were the Court-appointed receiver. We conducted a sale process for the property which resulted in a court-approved sale transaction. Our mandate also included addressing tenant issues and commissioning environmental and other studies to facilitate diligence for prospective purchasers.