Clarkson Road Holdings and its partners, the owners of a residential development project in Mississauga, Ontario, obtained protection under the Companies' Creditors Arrangement Act (CCAA) on May 3, 2024, citing approximately $54 million in liabilities. The project faced significant challenges due to a dispute with Kenaidan Contracting, the general contractor, causing construction to halt. With only 60% of the parking structure at grade level and the rest below-grade and not fully covered or sealed, it was critical to continue certain work to protect the site.

The companies faced increased costs and were unable to meet their financial obligations. Approximately $27 million in construction liens were registered against the property, and they defaulted on a $21 million mortgage from CS Capital. The CCAA proceedings aimed to facilitate a stalking horse Sale and Investment Solicitation Process (SISP) to expedite the property's sale. PwC was appointed as the monitor for the proceedings.