Flato Faces Receivership on Eight Properties; Fate of Owen Sound's Greystone Village Development Unclear
Seven companies tied to Flato are in receivership over roughly $29 million in defaulted loans. What it means for Owen Sound's approved subdivision is unclear.
Updated July 2, 2026:
In response to questions from the Owen Sound Current, City Manager Tim Simmonds confirmed that the Greystone Village draft plan approval remains in effect.
Council granted a two-year extension on July 7, 2025 — before the July 25, 2025 lapsing date — moving the new deadline to July 25, 2027 (staff report CS-25-072, under s.51(33) o…
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