Sdosani said:
It looks like someone has emerged at the 11th hour to try and purchase the building..."Chateau Yorkville Corp" put together $1.4b and wants it.
My guess is that the court will approve this sale as it is over the minimum threshold set in 2024 at $1.2b
Apparently we will find out end of June whats up with this.
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And how do you know this? Facts matter when rumours fly.
 
Going through the backlog of photos that I haven't had a chance to post.

Today.
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Last week.

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thaivic said:
And how do you know this? Facts matter when rumours fly.
Click to expand...
it's on the receivers web site...read the "motions" section and then look at what has been filed with the courts. It's the latest motion to be filed.
this happens to be the only way to get factual information about this project since 2023.
 
Sdosani said:
it's on the receivers web site...read the "motions" section and then look at what has been filed with the courts. It's the latest motion to be filed.
this happens to be the only way to get factual information about this project since 2023.
Click to expand...
On the website it indicates that on April 22 the courts approved for Tridel to take over at the beginning of May.
 
Sdosani said:
it's on the receivers web site...read the "motions" section and then look at what has been filed with the courts. It's the latest motion to be filed.
this happens to be the only way to get factual information about this project since 2023.
Click to expand...
The receiver responded (also linked on their page) urging dismissal of Chateau Yorkville Corp's unsolicited and late bid, arguing that CYC was not a party to the 2024 process to find a purchaser and that they did not have access to all internal documents, and that the bid was just intended to derail the process to bring the receivership to an end. You can read more about that here.

So, CYC's bid failed, and as @thaivic mentions, the court has now approved Tridel (which had not yet happened when Toronto Storeys reported it a couple of weeks ago) and has now discharged the receiver.

thaivic said:
On the website it indicates that on April 22 the courts approved for Tridel to take over at the beginning of May.
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We have published a front page story here detailing the provisions of the court order.

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