QRD (Willoughby) Holdings Inc., QRD (Willoughby) GP Inc., and QRD (Willoughby) Limited Partnership

On November 8th, 2023, MNP Ltd. was appointed as the Receiver and Manager (the “Receiver”) of QRD (Willoughby) Holdings Inc., QRD (Willoughby) Limited Partnership and QRD (Willoughby) GP Inc. (collectively, the “Companies”) pursuant to a Court Order issued by the Supreme Court of British Columbia.

The Companies were engaged in real estate development. The Companies sole project was a three phase, 87 unit townhouse development located in Langley, British Columbia.

The Companies were in process of construction of first phase of the project and were unable to raise additional financing to complete construction.