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Real estate projects in financial difficulty: Article II

Friday, May 12, 2017 @ 7:06 AM | By Daniel Weisz and Arif Dhanani

This is the second in a series of three articles that address issues when a real property developer becomes insolvent.

In the course of developing and building a real property project, the real estate developer will deal with a number of different parties, including the developer’s trades, the local municipality, secured lender(s), Tarion Warranty Corporation (Tarion) and purchasers. When the real estate developer runs into financial difficulties, the stakeholders in a project will have different objectives, and may take certain actions, as discussed below.

Developer ...