jbaa1
Active Member
I guess when we have the resolution for buyers, we can take the steps towards suing?
Once confirmed and documented, the purchase agreements are not going to be honoured?
Brampton UPtowns at Heart Lake | ?m | 4s | VANDYK
- Thread starter gquest
- Start date
Once confirmed and documented, the purchase agreements are not going to be honoured?
Deanfeb
Active Member
Vandyk is done gone.. just KSV wehave to deal with..
ruru123456
New Member
so we dont HAVE to do this right. i wonder how it benefits them or what happens if we dont
Oceans13
New Member
Yes we got this email, I don’t necessarily understand what happens tax wise if we do/or don’t follow up with their email.
Can anyone explain in simple terms?
Fra
New Member
Hello please copy and paste the letter you received from KSV. I never received anything!
Fra
New Member
can you please send a pic of the letter you received?
Deanfeb
Active Member
contact Stefania Mariani at 416-363-2211 Ext 103 or by email at smariani@srlawpractice.com.
Deanfeb
Active Member
If they return your deposits with interest which will produce a T5 for that year and will need to report as Income received T5 when you file taxes for that year.
jbaa1
Active Member
Is there a chance KSV will offer a settlement amount for equity lost?
Or we will definitely have to sue for this?
Deanfeb
Active Member
lol.. i doubt.. we will have to sue.. new document posted today Mar08.. for home buyers.. Court approved sale of all properties and to go on sale next few days,, except Uptowns and DXE Projects, the Receiver continues to consider and assessavailable options.
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sprtn
New Member
Interesting cases but I don’t think they relate to the issue here, both scenarios dont have the developer in receivership.
In one case the same developer cancelled contracts rebranded the project and sold for higher prices. unfortunately a receiver has broad rights to make decisions like (to sell a property) this under the BIA (with court approval).
Edit: the BC cases someone posted and I was referencing have since been removed
In one case the same developer cancelled contracts rebranded the project and sold for higher prices. unfortunately a receiver has broad rights to make decisions like (to sell a property) this under the BIA (with court approval).
Edit: the BC cases someone posted and I was referencing have since been removed
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Michelle C
New Member
A bit confused as well as the email we received is from Vandyk’s lawyer?
UAI
New Member
Can we all please arrange to meet in other to discuss our options and the best way forward. We need to work collectively.