Millennium Says Nothing Is Owed City
It should come as no surprise that Millennium Development has taken the position they will not refund the $3 million they were paid to manage the convention centre and construction of a new hotel.
The whole deal fell apart when Millennium was unable to get funding for the hotel component which hinged on vastly over priced condominium units it had hoped to sell.
The city filed suit against Millennium and Suro (what happened to Triarc?) in the Supreme Court of British Columbia for the recovery of $3, 045,058.02 on June 15, 2010. At best we get our money back, at worst the case should demonstrate the kind of due diligence that the city put into the matter. [Court File No. NAN-S-S-60133]
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