Ya looks like company filed for creditor protection to avoid filing for bankruptcy. Essentially what happened to Walton a couple years ago. On page 60 it looks like one of the secured loans relates to One Tower so will need to see what happens in the process.
Calgary-based real estate firm Strategic Group has obtained protection under the Companies’ Creditors Arrangement Act (CCAA) for about 50 of its properties. “We are battling the storm,” said Riaz Mamdani, CEO of Strategic Group, in a statement issued Wednesday afternoon.