FinDev says borrower 1682 Victoria Park enters CCAA protection

Reuters2026/07/24 20:06

By:Reuters

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FinDev disclosed CCAA protection for borrower 1682 Victoria Park under a July 17, 2026 Ontario court order.
Proceedings could change recovery timing and amounts on Findev Lending exposure of about $18.5 million as of Q1 2026.
Expected credit loss reserve stood at $8.7 million; assessment underway for potential impairment or write-down in Q2 2026 reporting.
Helmsbridge, controlled by insider Anthony Heller, advanced about $7.3 million of a $10 million facility; no fees or interest.
FinDev agreed to subordinate its security to Helmsbridge advances; about $24.3 million first-ranking mortgage remains ahead of its collateral.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. FinDev Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202607241605ACCESSWRNAPR_____1196035) on July 24, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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FinDev says borrower 1682 Victoria Park enters CCAA protection

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