Yeo Towns Project

On May 14, 2025, the Ontario Superior Court of Justice (the "Court") appointed KSV Restructuring Inc. (now known as AlixPartners Restructuring, Inc.) as the receiver (the "Receiver") of the Receivership Company, including the lands municipally known as 240 Yeomans Street, Belleville, Ontario.

Based on information received from the Receiver, Tarion understands that certain purchasers who were permitted to terminate their agreements of purchase and sale have done do so as of the date of this notice (such purchasers, the "Affected Yeo Towns Purchasers").  Certain other purchasers have not terminated their agreements of purchase and sale, with such agreements remaining in place as of the date of this notice.

Based on further information received from the Receiver, it is Tarion’s understanding that there is no prospect of Affected Yeo Towns Project Purchasers recovering any of their deposits by submitting claims in the receivership.  

Affected Yeo Towns Project Purchasers may contact Tarion to submit a Deposit Protection claim.You can learn more about Tarion's deposit protection.

Affected Yeo Towns Project Purchasers may have claims against other persons for amounts of their deposits in excess of the $20,000 limit covered by Tarion, including Aviva Insurance Company of Canada.  Purchasers may contact Aviva Insurance Company of Canada directly to obtain information in respect of such claims. 

Purchasers can have confidence that if purchase agreements are ultimately terminated as part of a receivership sale process or by transactions completed thereunder, and deposits are not refunded by the Receivership Company through the receivership process, then you will be able to submit a Deposit Protection claim to Tarion. You can learn more about Tarion's deposit protection.