An investment company that allegedly bought $24M worth of office space near Richmond Centre is suing the developer for backing out of the sale.

Yi Teng Investment Inc. filed a lawsuit against Keltic (Brighouse) Development Ltd. in the B.C. Supreme Court in 2018.

Keltic’s appeal against Yi Teng’s 2022 amendment to the lawsuit was thrown out last week by the court.

According to the amended lawsuit, Yi Teng entered into a contract with Keltic, then known as YYH Development, in May 2016 for a presale of a custom-designed office and retail space in a new development next to Brighouse station.

The office space was to be 40,000 square feet in total with north and south sides, each with two floors.

Keltic was incorporated by two companies — Yinghe Investment (Canada) Ltd. and Oriental Yuhong (Canada) Investment Holdings Ltd — in March 2016 for the purpose of pursuing the development. It was renamed from YYH to Keltic in October 2017.

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