Ashcroft Homes Group, an Ottawa-based residential developer, was placed into interim receivership on December 20, 2024, owing $194 million in secured debt to ACM Commercial Mortgage Fund, CMLS Financial, Equitable Bank, and Institutional Mortgage Capital. The group faced liquidity issues from rising interest rates and declining occupancy rates.

Initially granted CCAA protection on December 5, 2024, the Court later determined receivership was more suitable due to lender opposition and the real estate-centric nature of the business. KSV was appointed interim receiver. Legal advisors included Norton Rose Fulbright for the receiver, Cassels for ACM, Aird & Berlis for CMLS, Lenczner Slaght for Institutional Mortgage Capital, and Mann Lawyers for Ashcroft Homes.