Quote:
Originally Posted by cheswick
He also said D-Condos would never get built and downtown doesn't have the population to support a convenience store. Not to mention he was a belligerent asshole who lacked the ability to not only admit when he's wrong but accept anyone's opinion on subjective matters that differed from his own.
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Just came for a victory lap and to remind everybody that D-Condo went bankrupt, cost all the purchaser's their deposits, and cost the banker who approved the mortgage his job. Caisse sued Karampaul Sandhu but couldn't locate him, his lawyer abandoned him in the middle of the proceedings for non-payment, and the latest was that they were suing the guarantors of the loan, his father among them.
PWC acting as receiver went out for tender accepting bids to take the project over at the cost of Caisse's outstanding loan and couldn't find a buyer. They remain in control of the project with Bockstael having been brought in to complete construction. Their filings stated their best case scenario was a $6m loss on the project if they could sell all the units within ~2 years. That was 2 years ago.
Development is hard