Appeal court says bank owes no duty to investors | 2006-09-04
Irving Marks and David Taub of our litigation department were successful in having the Ontario Court of Appeal unanimously uphold the trial decision dismissing an action against Bank of Montreal involving commercial lenders' liability in respect of investment loans. The court held that in a debtor and creditor relationship involving a lender and its customer, lenders owe no duty to advise customers not to undertake a loan.
Creative Common Elements Condominium Structure Upheld at Court of Appeal | 2006-09-01
Irving Marks and Shawn Pulver, of our Litigation Department, were successful in having the Ontario Court of Appeal uphold a creative condominium structure for a Common Element Condominium Corporation which had been previously struck down at the lower court level. The novel declaration allowed a common element condominium corporation whose members (“Potls”) consisted of vacant land condominium corporations (both present and future), to provide for a contribution of common expenses based on the timing of development of each of the Potls. A more detailed analysis of the case will be published.
TEDCO Announces the Largest Green Community in Canada | 2007-10-24
On October 24, 2007, our client of over 20 years, the Toronto Economic Development Corporation (TEDCO), and Monarch Corporation announced that they will develop the largest low-rise green residential community in Canada. The $100 million project will be a joint development between the two corporations. TEDCO was represented by Leor Margulies, a partner with our real estate department, during its negotiations with Monarch Corporation.
The new development, called Evergreen, will offer environmentally friendly homes built to the new LEED-H standard on close to 24 acres in Toronto's Midland and St. Clair area. The project will encompass a mix of 196 town homes and single-family homes. This is the first time TEDCO, whose business is focused on commercial, industrial and mixed-use projects, has partnered with a residential builder.
Landmark Deal between TEDCO and Corus Entertainment Inc. | 2007-08-01
Darrell M. Gold represented City of Toronto Economic Development Corporation, the development arm of the City of Toronto, in its precedent setting design/build ground lease on lands south of Queen's Quay and east of the Jarvis slip to Corus Entertainment Inc., a Canadian-based media and entertainment company. This is the first private-sector investment by a firm into the "East Bayfront" as part of real waterfront revitalization in the City of Toronto's port lands. Darrell was assisted in the matter by TEDCO in-house counsel, Jerry Prypasniak, and Leor Margulies of our firm.
Purchase of Southwest Corner of Yonge and Sheppard | 2007-07-20
On July 20, 2007, Yonge-Poyntz Limited purchased one of the most desired retail/residential development sites in the City of Toronto - a 1.6 acre site at the southwest corner of Yonge Street and Sheppard Avenue. Yonge-Poyntz Limited purchased the property on behalf of a limited partnership representing the interests of our client, Bazis International Inc., and Lehman Brothers. The vendor was 1160895 Ontario Ltd. and the purchase price remains undisclosed.
Our client, Bazis International Inc., the developers behind the iconic "One Bloor" condominium development at Yonge and Bloor Streets, look forward to announcing an exciting new mixed-use condominium project on the site very soon.
The acquisition of the site was coordinated by Leor Margulies and Anthony Romanelli, solicitors with our real estate department and assisted by one of our senior law clerks, Audrey Weaver.
