Sean-MTL

I apologize, but I don't have a link. My sources come from one of the parties involved in the lawsuit. Supposedly they are being represented by the firm Dunton Rainville.

C'est vraiment bizarre. Y-a-t il encore des gens interessé ? Impossible!!!!

It seems to me that most sales offices exaggerate the amount of units already sold, kind of industry standard. I don't think the intent was to steal, the developer seemed to have genuinely wanted the project to move forward. Unfortunately his incompetence was too much to overcome and he kept digging a financial hole he couldn't get out of. He just borrowed to fix a problem and then kept borrowing to fix ongoing problems. Soon it was too much. What I don't understand is how did he have access to the deposit money if he had yet to secure financing with the bank??? Aren't eh deposits held in trust with a notary until the bank officializes financing approval? Who approved for those funds to be released, the notary??? If thats the case then the buyers have a real case against him and he will be royally screwed in court

Well it is now of official public record. The lawsuit has been filed with the courts!!! That's sad, but who can blame the buyers? They were screwed by incompetence. Not sure how anyone could have screwed this one up. I am sure the media will pick it up soon enough. Seems like an important story for the condo industry.

Yes, its a beautiful tower and amazing project. Unfortunately I have heard it was ruined by complete incompetence and at the moment almost every buyer in the project is currently in a class-action lawsuit against the developer and the agency involved in overseeing the release of funds. Its a big mess. Not sure how it ever came to that since I heard that 80% of the units were sold in pre-sales. I wonder what the developer did with all the deposits. Too bad. It would have been a gem of a place