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TORONTO — Three years ago, Loraine Adal-Salmon, who works in hospital administration, and her husband Anthony Salmon, a medical technologist, pooled their savings and put an $82,000 deposit on a three-storey semi-detached house with a finished basement and back yard that Urbancorp Inc. agreed to build them at the site of a decommissioned public school in midtown Toronto.

Urbancorp said it would give them the keys to their $810,000 home at the end of 2016.

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Today their dream, and those of many other homebuyers, lie in ruins. Urbancorp, beset by creditors in Israel and Canada, has filed for protection for some of its properties under the Companies Creditors Arrangement Act, and to restructure other properties under the Bankruptcy and Insolvency Act. A judge has approved a plan to sell the land intended for the couple’s home (and 64 other homes), possibly to buyers in China.

The couple now appears unlikely to get a house, or even to get back all of their deposit.