Various entities associated with the Simple Investor Real Estate Group (SIREG) have filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act amid a liquidity crisis affecting a real estate platform carrying more than $150 million of secured debt across the broader group.
SIREG, founded by real estate investor and former talk-radio host Todd Slater, built its business by acquiring apartment buildings across Ontario, converting them to condominiums and selling individual units to investors. The company marketed the investments as a hands-off form of real estate ownership, with SIREG Management Inc. managing the properties and guaranteeing rental payments to investors, including during periods when units were…