The Lion’s Share Group Inc., a training provider for mortgage brokers based in Ontario, filed a Notice of Intention (NOI) to make a proposal under bankruptcy protection on March 16, 2024, disclosing nearly $90 million in liabilities. The company, established by mortgage broker Claire Drage, was intricately linked to the Balboa Group, a real estate conglomerate that also sought CCAA protection earlier after facing multiple lawsuits from investors. Lion’s Share, utilized by Drage to gather promissory notes from investors, succumbed to insolvency due to several pressures. These included significant claims from the Balboa entities and numerous demands from its own lenders for repayment.

The Fuller Landau Group has been appointed as the proposal trustee to manage the insolvency proceedings. Legal guidance for Lion’s Share is provided by Paliare Roland, while Norton Rose is serving as the legal advisor for the proposal trustee.