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BC Developer to pay
February 14, 2024

B.C. developer ordered to pay $13M over cancelled contracts

A B.C. Supreme Court judge has ordered a Richmond developer to pay almost $13.1 million for cancelling deals with more than 30 would-be condo buyers before selling the units to other people for higher prices.

In a decision posted Monday, Justice Kevin Loo found Anderson Square Holdings Ltd. was not entitled to terminate contracts with nearly three dozen customers in July 2019 under the terms of pre-sale agreements for units in a residential development project.

Loo also found that the directors of the company — former Richmond city council candidate Sunny Ho and Jeremy Liang — “acted dishonestly” in claiming a lack of financing had rendered the project impossible, but he stopped short at holding them financially liable.

Read the article on CBC News


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