Tobiano in receivership - operation to carry on
B.C. Supreme Court has placed Tobiano Resort in receivership after it failed to keep current on debts totaling more than $27 million. Bank of Montreal initiated legal action last month after making payment demands on developer Michael Grenier and his companies, including Kamlands Holdings Ltd. and Pagebrook Inc. The court ordered a Vancouver receiver, Bowra Group, to take control of Grenier's companies on June 9. Reached at his office at the resort Monday, Grenier confirmed he has lost control of the project that began in Kamloops 15 years ago with his vision for waterfront property he purcha...
Source: kamloopsnews.ca