NDI Versus Commonwealth Going to Trial
Prince George, B.C. – All of the parties involved in the case of Northern Development Initiatives Trust versus Commonwealth Campus Corporation have agreed to send the matter to trial.
It all started out as a foreclosure action. NDI Trust alleges Commonwealth Campus failed to pay back the loan it was granted to purchase several lots in the 400 block of George Street.
But Commonwealth put forth an application to have the matter put to trial instead. The other parties have agreed to that request.
At issue is a loan of about $1.4 million dollars to Commonwealth to purchase several lots. Commonwealth argues that it entered into the agreement with NDIT believing NDIT would purchase the lands from them to be developed for a public project.
There has been no date set for the trial.
Comments
If NDIT was planning on buying the property, why would they loan tax dollars to a private company to buy that land and then buy that land from them afterward?
If I was buying land the last thing I’d want, would be another hand in my pocket trying to get their piece of my action.
I can’t wait to hear all the secret details of this “DEAL”
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