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 Posté le: Lun Sep 30, 2013 4:22 pm Sujet du message: Backers of Vancouver Island's biggest development |
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{Backers of Vancouver Island's biggest development broke securities laws: BCSC},[url=http://www.moncler-sale.org]moncler sale[/url]
Rendering of Capital City Centre in Colwood, VictoriaBy Glen KorstromWed Aug 14, 2013 12:37pm PSTThe British Columbia Securities Commission (BCSC) is alleging that the developers behind Vancouver Island's largest real-estate project,[url=http://www.moncler-sale.org]discount moncler jackets[/url],[url=http://www.moncler-sale.org]moncler outlet[/url], Capital City Centre in Victoria, promoted securities without proper disclosure.The BCSC announced August 14 that it has issued a notice of hearing alleging that League Investment Services Inc. promoted the sale of units of IGW Real Estate Investment Trust (REIT) without disclosing that League's owners earn management fees from the sale of those securities and that they are also trustees of the REIT.Adam Gant and Emanuel Arruda, through family trusts, own League and are its sole directors, according to the BCSC. The two B.C. residents are also trustees of IGW REIT and Gant is the president of IGW REIT.The BCSC contends that failing to disclose Gant and Arruda's connection with the REIT broke securities laws.None of the allegations has been proven in court.IGW has not yet gone public but was intending to have an IPO under the name League Financial Services.League is financing Capital City Centre in the Victoria suburb of Colwood. The mixed-use residential, commercial and office project is expected to be worth $1 billion and has been plagued with delays.The 14-acre,[url=http://www.moncler-sale.org]moncler down jackets[/url],[url=http://www.moncler-sale.org]moncler down jackets[/url], multi-phase project is slated at completion to have 4.3 million square feet in 11 buildings,[url=http://www.moncler-sale.org]moncler on sale[/url], including two 26-storey towers that would be Vancouver Island's tallest.Completion of initial buildings is set for December but the entire first phase is expected to take six years.gkorstrom@biv.com@GlenKorstromTags: law, securities,[url=http://www.moncler-sale.org]discount moncler jackets[/url], Victoria,[url=http://www.moncler-sale.org]moncler sale[/url], management,[url=http://www.moncler-sale.org]moncler on sale[/url], British Columbia Securities Commission,[url=http://www.moncler-sale.org]moncler outlet[/url], real estate, investment service
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