On April 13, 2018, by Order of the Ontario Superior Court of Justice (Commercial List) (the “Court”), KPMG Inc. (“KPMG”) was appointed as receiver and manager (the “Receiver”) of all the assets, undertakings and properties of Tarn Construction Corporation (“Tarn Construction”) pursuant to section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43 as amended. Tarn Construction was formerly involved in a three-phase condominium development project known as “The Kennedys”.

On May 30, 2023, by Order of the Court, the Receiver was granted leave and authorized to assign Tarn Construction into bankruptcy. KPMG was authorized to act as trustee in the bankruptcy of Tarn Construction.

On June 14, 2023, the Receiver filed an assignment in bankruptcy on behalf of Tarn Construction pursuant to section 49 of the Bankruptcy and Insolvency Act, and KPMG was appointed as trustee of the bankrupt estate (the “Trustee”) by the Official Receiver, subject to affirmation by the creditors of the Trustee’s appointment or substitution of another trustee by the creditors.

The First Meeting of Creditors will be held by teleconference on the 5th day of July, 2023 at 11:30 am Eastern Time. Teleconferencing details are as follows:

Phone Conference ID: 711053070#, 647-794-1236

The information contained on this page pertains to the bankruptcy proceedings of Tarn Construction Corporation. KPMG was appointed as liquidator of the effects and estate of Tarn Financial Corporation effective September 25, 2017, pursuant to section 207 and 248 of the Business Corporations Act, R.S.O. 1990, c. B.16. For information regarding the liquidation proceedings of Tarn Financial Corporation or the receivership proceedings of Tarn Construction please visit: www.kpmg.com/ca/tarn

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