The One, a luxury condo development in Toronto co-owned by real-estate developer Sam Mizrahi and road paving magnate Jenny Coco, is photographed on Oct 19, 2023.An Ontario judge has denied Jenny and Rock-Anthony Coco’s demand for $40-million from the waste management company that bought their family business, forcing the siblings to wait for another lawsuit tied to a luxury condo project in Toronto to be resolved.
However, less than a month after takeover closed in April, 2022, one of The One’s lead lenders, China-East Resources Import & Export Co., or CERIECO, a state-owned Chinese enterprise, alleged that its loan was in default and sued. This week, Justice Peter J. Osborne of the Ontario Superior Court dismissed the Coco family’s lawsuit in its entirety, allowing GFL and GIP to keep the entire $80-million in what is formally known as escrow.