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.
Partners Neill Kalvin and Peggy Spadafora, associate Tara Welat and senior law clerk Helen Wright acted on the acquisition and financing of the Stantec Campus on behalf of our client Northam Realty Advisors Limited. Northam acquired the Stantec Campus building in Edmonton, Alberta, for the Luxembourg based Northam Canadian Commercial Property Fund – FCP-FIS. The transaction was completed at a sale price of $49,250,000 on October 12, 2011. The complex is Stantec’s international corporate headquarter consisting of two eight story, Class “A” office buildings in Edmonton Alberta, Canada.
80-100 Yorkville Ave, Toronto - Retail Sale Closed | 2010-09-30
Real estate partners Leor Margulies and Peggy Spadafora and one of our senior law clerks, Helen Wright, acted on the sale of the retail component of the new addition to the Yorkville condominium skyline, 80-100 Yorkville Avenue, Toronto. The space comprised approximately 29,000 sq. ft. of high end retail with tenants such as Diesel and Anthropologie. The sale was completed for a sale price of approximately $28,000,000.00 by Yorkville (2001) Limited, an affiliate of the Invar Building Group and Tricon Capital to 80 & 100 Yorkville Corp. at the end of January 2010. It was reported by RealNet as being in the top 5 retail transactions in Canada, as of June 7, 2010. More recently, 97 luxury condominiums were closed in the residential component of the project in June 2010, and a further 6 luxury townhomes in August 2010.
One Bloor East, Toronto - Relaunched | 2010-09-30
Leor Margulies and Michael Rubinoff were pleased to be part of the relaunch of the condominium project at a location which David Gerofsky, President of Great Gulf Homes, called "not just the most important corner in the City but probably the most important corner in the country". The relaunch of the glittering new 65 storey mixed-use retail/residential tower by Great Gulf Homes took place on March 25, 2010 with great success. The project will include approximately 100,000 sq. ft. of retail space on the concourse, ground and second floors, 27,000 sq. ft. of superb amenities on floors 6 and 7 and 691 residential units.
.jpg)
