Quote:
Originally Posted by quasi
I wonder how many contractors they'll bankrupt as well? I've seen this story before, all the sudden your draw gets pushed, they keep telling you money's coming you keep working and paying your guys because if you don't and they bring someone else in you're even further fucked only to spend more money until finally you get told, yeah sorry about that you're getting nothing. You're on the hook for all the materials you haven't been paid for, your hold back and all the labour you've paid since whenever you had an invoice that was paid.
Then you lawyer up, spend even more money, get in the lien line and hope there are crumbs left at the end but there usually isn't.
I remember when that building on 104th in Surrey that's still empty went tits up the second time, Reliable equipment had a bunch of boom lifts and shit inside and they had fenced it off because the bankruptcy and wouldn't let them on site to retrieve their rented out equipment. They ended up bringing a crane and grabbing the lifts from off the property, possession is 9/10's of the law after all.
|
From a CBC article:
In a claim filed at the end of October, Jab Contracting claims Thind owes the company nearly $1.7 million on a contract worth more than $4.5 million for the installation of steel stud and drywall systems at the Highline.
Last month, a B.C. Supreme Court judge issued a default order for $17,071 after a crane operator filed a small claims lawsuit over work done at the Highline building. Another small claims lawsuit filed in September over a $16,000 fire safety plan for the Highline is still outstanding.
The developers behind the Highline have also not responded to a lawsuit filed last April by a company claiming nearly $600,000 for the "supply of electrical work and materials" for the Highline development.
A realtor is suing for $800k of unpaid commissions as well.