Paradise-based Karwood Estates Inc, Gregg Construction Ltd. file for creditor protection

Making Phyllo Parcels with a Greek Yaya | SaltWire #halifaxnovascotia #greekfood #cookingST. JOHN'S, N.L. — Citing the impact of regulatory actions by the towns of Paradise and Spaniard’s Bay combined with a slowdown of business, rising interest rates and “aggressive lender behaviour” due to the COVID-19 pandemic, two significant members of the province’s development and construction industry have filed for creditor protection.Karwood Estates Inc. and Gregg Construction Ltd.

“We have recently had significant interest in a number of real property sales, and several purchase and sale agreements are currently under negotiation,” he said. The day before the application was filed, the companies received a cut-off notice from Newfoundland Power affecting Gregg’s commercial properties.

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