Our Lady Peace play a show to mark the re-opening of the iconic Toronto music venue the El Mocambo in October, 2021. Share Save for later Please log in to bookmark this story. Log In Create Free Account

An Ontario court has approved the sale of the famed El Mocambo club in Toronto to a buyer that intends to keep it operating as a music venue, after former owner and Dragons’ Den star Michael Wekerle defaulted on $55.6-million in debt through companies he controls.

Documents filed by Ernst & Young Inc., which has been running a sales process for the property, show the firm recommended an offer by a numbered Ontario company whose director is Cyrus Madon, executive vice-chair at Brookfield Asset Management Inc. in Toronto.

Ontario justice Peter Osborne approved the

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