Iconic Toronto condo project placed into receivership due to $1.6B in unpaid debt
A high-profile Toronto condominium project that has been plagued with delays and setbacks for more than a decade has been placed into receivership by its biggest lender, refusing to foot the bill for $1.6 billion in unpaid debts until someone else is in charge.
![Iconic Toronto condo project placed into receivership due to $1.6B in unpaid debt](https://i.cbc.ca/1.7002845.1697815394!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/the-one-condo-construction.jpg)
![The One, Sam Mizrahi and Jenny Coco’s 85-storey luxury condo under development is seen at the corner of Yonge and Bloor streets in Toronto, Thursday, October 19, 2023. Construction of The One condo tower in Toronto](https://i.cbc.ca/1.7002845.1697815394!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/the-one-condo-construction.jpg)
A high-profile Toronto condominium project that has been plagued with delays and setbacks for more than a decade has been placed into receivership by its biggest lender, refusing to foot the bill for $1.6 billion in unpaid debts until someone else is in charge.