TD, Scotiabank, CIBC Among Lenders Owed $53 Million by Urbancorp

  • Builder units file under Companies’ Creditors Arrangement Act
  • Urbancorp debt related to project mortgages, lines of credit

Urbancorp, the Canadian residential developer seeking bankruptcy protection on several projects as it restructures the company, owes more than C$68 million ($53 million) to lenders that include some of the country’s largest banks, court filings show.

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