April 18, 2024

The Queens County Citizen

Complete Canadian News World

Revenu Québec claims $8 million from Groupe Huot

Revenu Québec claims $8 million from Groupe Huot

The Quebec revenue agency has been claiming $8 million in unpaid taxes from the financially troubled Huot Group since February.

• Also Read: Businessman who recruited 75 millionaires in Quebec to invest in Huot Group pushed for exit

• Also Read: Huot Group has $150M in “hidden debt”.

• Also Read: Real estate developer Stefan Hutt has two lots seized by his ex who claims $2.3 million from him

On May 17, Quebec tax authorities registered five legal hypotheses on buildings belonging to group companies in the La Cité M, L’Aventura and L’Ariela projects in Quebec.

According to data compiled by specialist firm Terram Technologies, mortgages are primarily related to Quebec sales tax (QST), but also unpaid taxes from 2020 to 2022.

The amounts claimed by Revenu Québec are not the only taxes unpaid by Groupe Huot.

According to documents consulted, municipal and school taxes owed to the group total more than 4.8 million.

Other remedies

These registrations are in addition to notices of sale under judicial authority registered by the group’s creditors over the past few days.

Toronto lender Timbercreek demanded repayment of a $250 million loan within 60 days.

Another group of creditors, Vancouver-based CMLS Financial and RBC Investor Services Trust, filed a notice on May 10 for a $52 million loan.

As of May 16, according to Terram Technologies, there were 359 legal construction mortgages for claims totaling $162.5 million on buildings belonging to developer Stefan Hoot.

judgment

The Superior Court on April 19 ruled that Huot Group company Millennium Construction must pay more than $850,000 to the Quebec Revenue Agency under tax laws.

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According to the ruling, Millennium Construction received assessment notices totaling more than $2.2 million between October 2021 and March 2023. “The amount of the debt or, where applicable, the recoverable part [ …] at $852,303.65,” the document said.

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