The Windrose Group added to Lion's Share Group receivership amid investor lawsuits

Company

The Windrose Group

Law Firm / Organization
Paliare Roland Rosenberg Rothstein LLP

Company

Fuller Landau LLP

Law Firm / Organization
Norton Rose Fulbright Canada LLP

Company

Lenders for 10 Norfolk St. Inc., 388 Downie Street Inc., and Commercial Urkel Inc.

Law Firm / Organization
Aird & Berlis LLP

On June 12, 2024, The Windrose Group, owned by mortgage broker Claire Drage, was added to the receivership proceedings of The Lion’s Share Group, following an application by Fuller Landau, the appointed receiver. Fuller Landau had initially been appointed as proposal trustee for Lion's Share in March 2024, soon after the Balboa Group, a major real estate player funded by Ms. Drage, sought CCAA protection. By this time, multiple lawsuits were filed by lenders seeking to recover investments. Investigations revealed that Ms. Drage also used The Windrose Group to solicit investments, leading to lender representatives urging the inclusion of Windrose in the ongoing receivership.

The legal advisors involved in the proceedings are Paliare Roland for Lion’s Share, Norton Rose for Fuller Landau, Aird & Berlis for the lenders, and Reconstruct for related entities, including 10 Norfolk St. Inc., 388 Downie Street Inc., and Commercial Urkel Inc. The financial details of the receivership are currently undisclosed.

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Other
Undisclosed/Confidential
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