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Based on bank records and interviews with the people involved the business, the report alleges conflicts of interest, questionable capital controls and accounting, as well as personal spending with corporate funds by directors of the company
Justice Jessica Kimmel extended the stay of proceedings last week against the enterprise, referred to collectively in court documents as Balboa et al, until March 28 as it seeks court protection while it reorganizes
In a 2022 promotional video, Robby Clark stands at the bow of a yacht, arms raised to the sky as a camera circles overhead. "You can stick me in the desert with nothing and I’m going to come out owning the desert," he says. Less than two years later, his Ontario real estate empire is under bankruptcy protection, owing hundreds of lenders tens of millions of dollars.
A small group of landlords who own hundreds of rental properties across the province have run out of money, owe over $144 million in unpaid loans and face dozens of lawsuits from creditors, according to documents filed with the Ontario Superior Court of Justice.
Nine tenants at 1083 Main St. E. had no running water from Dec. 28 to March 24 after city staff 'turned their backs on us completely," one tenant says.