Nine Nygard companies in receivership since March are fighting to take back control of their assets, even though only part of their debt has been repaid. Last month, the Nygard companies unsuccessfully argued that Richter's job as receiver was therefore complete, and the court should discharge the receivership and prevent the sale of the Inkster property. The Nygard Group said Nygard Properties Limited owned four properties, two of which were sold by the receiver to fund $19.6 million in repayments to White Oak. Since the debt to White Oak has been paid in full, Richter should not be allowed to sell the Inkster property, the Nygard Group says. the Nygard companies said in the appeal.

Source: CBC News December 04, 2020 22:28 UTC