About Sunrise Acquisitions and 2846862 Ontario Inc
Tarion continues to closely monitor the situation involving Sunrise Acquisitions (Stayner) Inc. and 2846862 Ontario Inc. We understand that purchasers of pre-construction homes are concerned about the status of the projects and what it means for their purchase agreements.
We encourage you to speak with your real estate lawyer if you have questions about this situation and receivership process. Information about the receiverships is available on the receivers' website (see hyperlinks below).
Tarion will update this notice from time to time.
Purchasers of Pre-Construction Homes
On February 29, 2024, TDB Restructuring Limited, was appointed receiver of Sunrise Acquisitions (Stayner) Inc. and 2846862 Ontario Inc., including the properties located at 1192 Simcoe County Road 7, Stayner, Ontario, and 299 Mowat Street North, Stayner Ontario.
At this time, neither the appointment of the receiver, nor any sale process, whether currently underway or pending, have resulted in the termination or fundamental breach of purchase agreements.
You can learn more about the deposit protection offered by Tarion here.
How Tarion will support purchasers
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 Sunrise Acquisitions (Stayner) Inc. and 2846862 Ontario Inc. through the receivership process, then you will be able to submit a Deposit Protection claim to Tarion. You can learn more about the deposit protection offered by Tarion here.
There may also be a future claims procedure order made in the receivership proceedings, pursuant to which purchasers who paid deposits to Sunrise Acquisitions (Stayner) Inc. and 2846862 Ontario Inc. for pre-construction homes will be able to file claims.