3EC Like it love it or hate it?

[Bigtime]

Shaw's got their own issues, doubt they are looking to build their own new tower.

[Jimby]

Where did $38 million go? Even if you include the land value, there is nothing much to show for all that money. I'm surprised Bosa Properties had a minor involvement as a creditor.

[red_179]

Originally Posted by Bigtime

I sure hope those deposits from purchasers were put in a trust, and they should be able to get their entire deposit back.

Those that are screwed are the unsecured creditors...

Sometimes the deposits are held in trust, but most of the time with new construction the deposits are releasable to builder immediately to help them finance construction. In such cases the Builder usually pays for Deposit Insurance to be included in the New Home Warranty Coverage which covers a deposit up to 20% of the purchase price, subject to a maximum of $100,000. So if the deposit was not in a trust, the buyer can make a claim under the Deposit Insurance of the Alberta New Home Warranty Program for recovery of their deposit. As long as a Buyer didn't make a deposit in excess of the coverage limits, they should be okay.

[Policy Wonk]

Originally Posted by Bigtime

Shaw's got their own issues, doubt they are looking to build their own new tower.

I understand the only thing on the agenda is forming some sort of exit strategy for getting out of their $200m black hole wireless investment since there is zero probability of their transaction with Rogers being approved.

Everything else is background noise.

[Cage]

Here is the link to the Deloitte website for 3EC.

http://www.deloitte.com/view/en_CA/c...56f70aRCRD.htm