Brink Wins Court Case
By 250 News
Thursday, October 08, 2009 03:58 AM
Prince George, B.C.- J.A. Brink Investments has won a court case against BCR Properties and it will send the company back to the drawing board on it’s efforts to buy the land on which it sits.
Brink has been leasing the property, and the case in court involves the appraisal of property on which Brink Investments had an option to buy.
Brink Investments argued the appraiser selected to set the price for the property, was not an independent third party and as such there was some bias which would have been in favour of BCR properties.
The Judge agreed, and issued an order that a new independent appraiser be appointed as well as extending the time frame for the preparation and delivery of the new appraisal as well as an extension of the time frame for Brink Investments to exercise it’s option to buy.
John Brink says the whole process has been very frustrating, that BCR Properties has a mandate to sell off the properties that had been owned by BC Rail, “But here we are four years later, still fighting with the Crown Corporation.”
Brink says the future of his company is at stake, with 180 employees now, and a plan to hire 120 more.
“Our company has $5 million dollars invested in this” says Brink, who says his company still wants to exercise its option to buy the property once a new appraisal has been completed.
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Posted by: Lamb on October 8 2009 6:42 PM
metalman.