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report on business
Fortress to pay $250,000 to settle with Ontario mortgage regulator
Launched in June, 2019, the Financial Services Regulatory Authority is seeking public feedback on investor-protection proposals it has put forward in the wake of failed projects affiliated with Fortress Real Developments.
report on business
Law Society of Ontario launches disciplinary case against lawyer who advised Fortress Real Developments investors
Launched in June, 2019, the Financial Services Regulatory Authority is seeking public feedback on investor-protection proposals it has put forward in the wake of failed projects affiliated with Fortress Real Developments.
the listing
Lawyers for Fortress investors criticize ‘inappropriate’ offer from developer Brad Lamb
Renderings of Bauhaus, a proposed 218-unit condo project at 284 King St. E., Toronto
report on business
Law Society of Ontario probes Fortress Real Developments lawyer over mortgage conduct
Signs point visitors to the second floor of 25 Brodie Drive in Richmond Hill, Ont. , where Fortress Real Developments is.
report on business
Bankruptcy probe launched as investors seek $7-million from developer
A housing development still under construction (L) is close to finished homes in the GTA, are seen from a helicopter on June 17 2019.
report on business
Sale of Fortress’s Collier Centre leaves investors empty-handed
Bonnie Emms poses for a photograph at her home in Wasaga Beach, Ont., on Nov. 17, 2018.
report on business
Fortress seeks large payouts for negotiating new financing for troubled real estate assets
FAAN Mortgage Administrators Inc. was appointed last year to take control of Fortress’s $560-million in outstanding syndicated mortgage loans.
report on business
Investors in Brad Lamb, Fortress condo project to receive partial payout
Construction helmets with the Fortress Real Development logos sit on a shelf in an unfinished commercial portion of the Collier Centre on Collier Street in Barrie, Ontario, Canada on Tuesday, November 13, 2018. The Collier Centre is a mixed use mid-rise development owned by Fortress Real Developments in downtown Barrie. Fortress Real Developments Inc is facing financial trouble, has faulted on several loans and lenders are trying to take control and, sell some of their projects, including the Collier Centre in Barrie. Ryan Carter/The Globe and Mail
report on business
Hopes fade for Fortress investors seeking to recover funds
A receiver negotiated the sale of the property in October to developer Empire Communities, and court filings show there were proceeds of more than $47-million after costs.
streetwise newsletter
Streetwise newsletter: RBC pushes back on Facebook data allegations; Home Capital sinks as Buffett offloads stock
A Royal Bank of Canada branch in Ottawa, May 26, 2016.
report on business
Last of mortgage brokers affiliated with Fortress goes out of business
Vince Petrozza, chief operating officer (COO) of Fortress Real Developments, leaves the company offices in Richmond Hill, Ontario, Canada Nov. 21, 2017.
real estate
'My money is probably all gone’: These are the people hurting from Fortress
Bonnie Emms poses for a photograph at her home in Wasaga Beach, Ont., on Saturday, November 17, 2018. (Christopher Katsarov/The Globe and Mail)
investigation
Inside the fall of Fortress
Mario Narciso and Fernanda Cortes pose for a photograph at their home in Vaughan, Ont., on Friday, November 16, 2018. (Christopher Katsarov/The Globe and Mail)
streetwise newsletter
Streetwise newsletter: Best reads of the week
A Rogers Communications Inc. logo is shown outside the Rogers Building in Toronto on Tuesday, April 22, 2014. Rogers Communications Inc. reported a second-quarter profit of $538 million, up from $528 million a year ago. THE CANADIAN PRESS/Darren Calabrese
report on business
RCMP search Fortress office in mortgage-fraud probe
Police search the Fortress Corporate offices in Richmond Hill, Ont., on April 13, 2018.