The Crown Trust Company was an Ontario-based firm that operated in most of Canada 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, the Trust and Guarantee Company Limited acquired Crown Trust.news.google.com: "The Montreal Gazette - Feb 7, 1946"
/ref> For one year it operated under the name the Crown Trust and Guarantee Company. In December 1947 it was renamed the Crown Trust Company. It eventually came to be controlled by

Argus Corporation The Argus Corporation was an investment holding company based in Toronto, Ontario. During the 1960s and 1970s, it was the most powerful and best known conglomerate in Canada, at one time controlling the companies making up 10 percent of all shar ...

References

Trust companies of Canada Defunct financial services companies of Canada {{finance-company-stub