Revenu Québec claims $8 million from Groupe Huot

The Quebec Revenue Agency is demanding $8 million in unpaid taxes from the Huot Group, which has been in financial turmoil since February.

• Also read: The businessman who recruited 75 Quebec millionaires to invest in the Huot group has been pushed out

• Also read: The Huot Group had a “hidden debt” of $150 million

• Also read: Real estate developer Stéphan Huot had two lots seized by his ex-wife, who claimed $2.3 million from him

On May 17, Quebec tax authorities registered five legal levers on buildings related to the group’s companies in Quebec, on the La City M, L’Aventura and Lariella projects.

According to data collected by the specialized company Terram Technologies, mortgages are mainly related to Quebec sales tax (QST), but also to unpaid taxes, for a period ranging from 2020 to 2022.

The amounts claimed by Revenu Québec are not the only taxes that Groupe Huot has not paid.

Municipal and school taxes owed by the group amounted to more than 4.8 million, according to the documents consulted.

Other treatments

These recordings are in addition to the notices of sale under the jurisdiction recorded by the group lenders in the last few days.

The Toronto Timber Creek bank demanded that the $250 million debt be repaid within 60 days.

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

As of May 16, according to Terram Technologies, there were 359 legal construction companies with a total claim of $162.5 million for buildings related to developer Stéphan Huot.

to rule

On April 19, the Supreme Court also ordered Millenum Construction, a subsidiary of the Huot Group, to pay more than $850,000 to the Quebec Revenue Agency, under tax laws.

According to this ruling, Millenum Construction would have received notices of a total valuation of more than $2.2 million between October 2021 and March 2023. “The total amount of the debt or, where applicable, the recoverable portion [ …] “He stands at $852,303.65,” the document said.