Vancouver-based fractional real estate investment platform Addy has officially filed a Notice of Intention to Make a Proposal (NOI) in a bankruptcy proceeding, according to filings in the Supreme Court of British Columbia.
Addy Technology Corp. initiated the NOI proceeding under the Bankruptcy and lnsolvency Act on April 16, then filed an application to launch a court-ordered sales process on April 27, which was granted by the court on April 29.
“ln 2018, Addy was founded to develop and operate a software-enabled investment platform intended to broaden access to real estate opportunities by allowing individuals to participate with smaller investment amounts than would typically be permitted in traditional private market real estate…