TORONTO – Ontario’s Home Construction Regulatory Authority (HCRA) has announced it is freezing the assets of Highbridge Construction after the firm, based in Orleans, Ont., abruptly ceased operations on Feb. 3.
The firm’s licence has also been suspended as the HCRA investigates, stated a Feb. 21 release.
The HCRA is urging anyone who has purchased a new home or engaged in a financial transaction with either Highbridge or anyone associated with Highbridge to contact the HCRA immediately.
In the notice sent to Highbridge Construction, licensed as ViloHam Trades Inc. since January 2021, the HCRA cited the company for suddenly ceasing operations while it had at least five new home construction projects underway. The HCRA stated it is particularly concerned that deposit money taken from purchasers as part of the projects was not returned when the company claimed insolvency.
The HCRA commenced an inspection that included demands for records and responses to inquiries relating to the status and location of deposit funds. The company failed to comply with the HCRA inspection, resulting in an immediate compliance order being issued along with the licence suspension and a freeze order requiring the firm to hold all assets and funds.
“A licensed homebuilder is expected to be financially responsible,” stated HCRA CEO and registrar Wendy Moir in a statement. “We are determined to find out what happened, and especially what happened to the purchasers’ deposit funds. Highbridge Construction claims that the money is gone but will not provide the HCRA with any documentation to back up those claims.”
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