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Sleazy developer Kensington Island Properties bites the dust – court ordered sale to satisfy $100 Million debt.

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https://greenstreetnews.com/article/vancouver-island-developer-ordered-to-sell-land-to-pay-creditors-nearly-100m/ A $78 Million debt, plus interest at a rate of 30% per annum, compounded monthly! 30%!!!! Defaulted Loan B Agreement, Loan B Security and multiple Forbearance Agreements. JFC! So now what about the fantasy promise of KIP paying $30 Million with Komok’s First Nation for the south Sewer Extension? What about the second DAF […]

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