PG Golf And Curling Club Launches Law Suit

Wednesday, September 13, 2006 06:12 PM

The Prince George Golf and Curling Club is seeking court action after the sale of the club failed to close.

The Pomeroy Group of Grande Prairie had offered the club $15 million for the property that the club sits on. With that pending sale, the Club purchased a new site at a cost of $1.5 million near Pidherny Rd off the North Nechako.

The Court action was taken when the deal failed to close.

No comment has been made by the Pomery group with respect to the transaction or the court case.

In the meantime, the Prince George Golf and Curling Club says there are some other partis interested in buyng the property, and they will likely entertain those offers.

The Pomery Group was also involved in the purchase of the old FoodTeller building on George Street which has sat idle for a number of years. The position of that transaction is not known.

Previous Story - Next Story

Email |

Print |

Facebook |

Twitter |

Digg |

Del.icio.us

Posted on Wednesday, September 13, 2006 06:12 PM in News by 250 News

Return to Home

Comments

Posted by: owl on September 14 2006 12:51 AM

Stretched too thin, are they? Time is of the essence when closing a deal. Don't give the interested party time to start looking around.

Posted by: YamaDooPolCat on September 14 2006 7:46 AM

Bye bye Pomery.

Posted by: trusted on September 14 2006 7:54 AM

Oh, gracious me-don't tell me they put the cart before the horse?
LIKELY entertain other offers?
Give me a break-they are probably frantic to entertain other offers.
Why bother with expensive "court action" if other parties waiting on side lines?
Put the good old spin on us-
Who's dizzy, and who isn't?
Put the price up-that might work!
Worked for me in the past.
Have they made other committments without being certain of their sale?

Posted by: owl on September 14 2006 9:18 AM

Who knows whether the deal they had to buy the property on the North Nechako was actually closed. If the sale was conditional on the Pomeroy sale going through, they likely have an out. Otherwise, if it has not finalized yet, they may be subject of a law suit themselves if the offer was not properly written.

Posted by: diplomat on September 14 2006 2:33 PM

If the Prince George Golf and Curling Club is going to court it is probably trying to collect a penalty fee that is owed to it by Pomeroy's pulling out of the agreement.

The Prince George Golf and Curling Club may have had other better offers in the meantime which it had to turn down because an agreement to sell to Pomeroy had been signed in good faith.

So there is a potential loss here that Pomeroy caused by walking away, if in fact it did.

Posted by: trusted on September 14 2006 3:03 PM

Sorry-signing an agreement for that kind of money eliminates any so called "good faith" clause, if such a clause ever existed. I have bought and sold a fair amount of property-and never caught a glimpse of any "good faith" clause in any agreement, for either the seller or the purchaser.
New to me!
If they failed to close-I would think "NO DEAL." If there were no "subjects to" and they placed a deposit-they lose it. That is why most people attempt to put down a paltry amount as a deposit.
Interesting-if nothing else!