Representative Work

Mady Steeles 2011 Ltd. purchase of 39 acre retail/commercial site at 5789 - 5951 Steeles Avenue East, Toronto

Leor Margulies
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Overview

The site, previously owned by Landmark Development Corporation, was sold to Mady Steeles 2011 Ltd., a subsidiary of Mady Development Corporation, for $42.5 Million in December 2011. Financing was provided by Trez Capital Corporation and Northbridge Financial Corporation, a subsidiary of Fairfax Financial Holdings Limited.

Our Real Estate Group partners Leor Margulies and Peggy Spadafora and senior law clerk, Carol Duran, acted on behalf of both Mady Steeles 2011 Ltd. and the second mortgagee, Northbridge Financial Corporation in completing the purchase from the court appointed receiver, Deloitte & Touche Inc., and the related second mortgage financing. Plans for a potential box store and retail development on the frontage along Steeles are underway with a redesign of the retail condominiums that were previously planned, to follow.

Lawyers

Representative Work

  • | Litigation and Dispute Resolution

    Defeated Injunction to Tie Up Client Assets and Received Elevated Costs Award

    MFC v Mady Collier, 2016 ONSC 4182 (CanLII) – Clients were awarded their costs on a substantial indemnity scale when they defeated a Mareva injunction which tried to tie up their assets...
  • | Litigation and Dispute Resolution

    Certified a Class Action

    Rebuck v. Ford Motor Company, 2018 ONSC 7405 (CanLII) – Obtained a judgment certifying a proposed class action against Ford Motor Company and Ford Motor company of Canada on behalf of i...
  • | Litigation and Dispute Resolution

    Overturned Lower Court Decision at Ontario Court of Appeal

    Birchcliffe Core-Harbour Inc. v. Pinnock, 2019 ONCA 417 – Succeeded at the Ontario Court of Appeal in obtaining damages for breach of contract when a purchase of land could not be completed,...