Toronto The One | 328.4m | 91s | Mizrahi Developments | Foster + Partners

Tommy2342 said:
I hate to break this to you, but it's unlikely that this gets built by the current developer IMO. I suspect that another developer may take it over at some point a couple years from now, and cancel pre-orders. I can't imagine that they, as they currently stand, can make any money since they've charged prices from years ago that don't make sense in today's economy.
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LMVDR....is that you?
 
...and let's hope Mr. Benito flies back to his pictorial progress perch sooner than later in the meantime. <3

(Not that I want to rob him of any of his precious and needed vacation time in doing so though!)
 
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They should of scheduled another pour for this past weekend. And conveniently make it last till Family Day. /sigh
 

Bridging Finance investors to lose $1.3-billion after sale process terminated because of unsatisfactory bids​

www.theglobeandmail.com

Bridging Finance investors to lose $1.3-billion after sale process terminated because of unsatisfactory bids

Bridging Finance Inc.’s investors will lose an estimated $1.3-billion under a final proposal to scrap selling the private lender in favour of winding down its troubled loan portfolio
www.theglobeandmail.com www.theglobeandmail.com

The receiver will ask a judge to formally terminate the sale process on Feb. 25. If approval is granted, PwC hopes to make an initial distribution by June 30, with additional distributions likely made on a semi-annual basis as Bridging’s loans mature. The receiver has also said it is considering litigation against some Bridging officers and owners, and any proceeds from that could boost investor recoveries in the future.
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Jenny Coco, owner of The One, is in the crosshairs. She's already had to sell her family paving business Coco Paving.

Bridging is currently under investigation by the Ontario Securities Commission after the regulator discovered several problematic loans and alleged impropriety. In one instance, Bridging’s largest borrower allegedly transferred $19.5-million into the personal chequing account of its chief executive officer.
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I'm sure there's some explanation for this that doesn't involve these folks being crooks...
PwC also flagged alleged conflicts of interest between Bridging’s officers and its borrowers, which is a focus of the OSC’s continuing probe. The receiver went into detail about loans made to Gary Ng, a Winnipeg-based businessman who bought a 50-per-cent stake in Bridging Finance for $50-million in 2019.

Six months later after his purchase, an investigation revealed Mr. Ng had forged collateral documents and he wasn’t worth anywhere near what he’d said he was. This spelled trouble for Bridging because it had lent Mr. Ng and his companies $132-million.

Bridging’s owners – Jenny Coco and Rock-Anthony Coco, who owned asphalt giant Coco Paving Inc., and Natasha Sharpe – bought back Mr. Ng’s stake for $5, which has already been documented by the OSC. However, in its latest report to the court, PwC said it is “not aware of any meaningful disclosure having been made to unitholders” regarding the conflict of interest and the issues with Mr. Ng’s allegedly false collateral.

PwC also discovered that an agreement between Bridging’s owners and Mr. Ng pertaining to buying back his stake may include a covenant that prevents Bridging from suing Mr. Ng and some of his related corporations.
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Jenny is up to her eyeballs in this fraud. The Mizrahi loans are looking very suspect too.
 
LoMein said:

Bridging Finance investors to lose $1.3-billion after sale process terminated because of unsatisfactory bids​

www.theglobeandmail.com

Bridging Finance investors to lose $1.3-billion after sale process terminated because of unsatisfactory bids

Bridging Finance Inc.’s investors will lose an estimated $1.3-billion under a final proposal to scrap selling the private lender in favour of winding down its troubled loan portfolio
www.theglobeandmail.com www.theglobeandmail.com


Jenny Coco, owner of The One, is in the crosshairs. She's already had to sell her family paving business Coco Paving.


I'm sure there's some explanation for this that doesn't involve these folks being crooks...

Jenny is up to her eyeballs in this fraud. The Mizrahi loans are looking very suspect too.
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Thanks LoMein, I needed something to help me fall asleep…
 
UpwithOlives said:
Thanks LoMein, I needed something to help me fall asleep…
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UtakataNoAnnex said:
Might as well talk about the Blue Jays here, I'm not sure that's any less off topic... >.<
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Not sure why you guys are so harsh on this kid... unlike certain other members, he is not being disrespectful in any way to others, and his posts are very relevant and all properly cited... if you don't think OSC fraud investigations into the the 50% equity owner of a building has anything to do with the building... well then I have some Theranos stock to sell you...
I have a multi-million dollar investment in a unit here, so I think I am more eager for this to get built as is without delays or any other adverse changes than most... and yet I find his timely links to news articles very useful for me to monitor and assess my position...
 
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