Crown Trust

The Crown Trust Company was an Ontario-based firm that operated in most of Canada[1][2] prior to its bankruptcy, along with several other trusts, in 1983. The bankruptcies occurred when a major Canadian recession drove down speculative real estate values into which the trusts had made increasingly bad loans during a period of rising inflation and interest rates. Crown Trust, and many other Canadian financial institutions, were left with an overwhelming volume of defaulted mortgages.

History

In January 1946, Crown Trust merged with Guarantee Trust of Montreal.[3]

It eventually came to be controlled by Argus Corporation.

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References
  1. montreal.qc.ca: "Saint-Jacques, la rue des banques: FICHE D'UN BÂTIMENT - 393, rue Saint-Jacques"
  2. nslegislature.ca: "Central Trust Company Act - CHAPTER 64 OF THE REVISED STATUTES, 1989"
  3. news.google.com: "The Montreal Gazette - Feb 7, 1946"
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