MARCH 27, 2020 UPDATE
We are currently working toward obtaining an expert report on the respective liability of counsel that acted on behalf of the General Partner and Limited Partners (your group). Once the courts reopen, as we primarily focus on the pandemic that is currently and properly the focus, we will advance this claim thereafter. We have a lot of evidence here to assist us with this claim and your patience is appreciated.
We have another pending application related to this investment that will be brought after the courts reopen. It will provide us with additional evidence to bolster the claim.
We appreciate your trust and patience.
This lawsuit is related solely to investors in Qualia V – the Dominion building. It is being advanced against the two lawyers that acted for Multus, the general partner, and the limited partners (plaintiff class). The liability relates to the failure of the vendor’s lawyer to secure the cash to close that would have repaid the limited partners, or alternatively, to register and enforce a vendor take back mortgage that was purportedly agreed to in order to vary trust conditions related to using the transfer of land to convey title to the purchaser.
We are going to be amending our pleadings and bringing application related to this action, in the fall. We have conducted extensive work in this litigation, to the point of obtaining trust records from one of the lawyers involved to determine where the equity that was supposed to be used to pay out the limited partners, was diverted. We will keep you posted here as we proceed.