Pre-Construction Purchasers/预售合同/預售合同

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of File as of May 6, 2020

Pending determination of the future of each Project, the Receiver will no longer be accepting deposits from purchasers. Further information will be made available on the status of the receiverships on this website as it becomes available.

Status of File as of April 21, 2020

Based on the materials filed by the receivership Applicants and its initial review, the Receiver is aware that 918 purchasers entered into agreements of purchase and sale for units in the 33 Yorkville project, who appear to have provided deposits totaling $160 million.

The Condominium Act (Ontario) provides at section 81(7) that deposit monies shall be held in trust (usually by a law firm) until, among other things, the declarant “ensures that security of a prescribed class is provided for the money…”.  At this time, we understand that for 33 Yorkville, the law firm, Bennett Jones LLP, holds $3.1 million as escrow agent pursuant to a deposit trust agreement.

The “prescribed security” under the Act includes insurance coverage by Tarion Warranty Corporation (the government’s warranty corporation, “Tarion”) for the first $20,000 of a purchaser’s deposits. It also includes excess deposit insurance from an insurance company issued in favour of a purchaser in relation to deposits in excess of $20,000 that are being released from trust.

From its initial review of the materials filed with the receivership application, the Receiver understands that the 33 Yorkville project entities arranged with Westmount Guarantee Services Inc. (“Westmount”) to provide bonds to Tarion to secure the insurance coverage by Tarion in favour of purchasers.  In addition, it appears that the 33 Yorkville project entities arranged excess deposit insurance policies with Westmount to enable deposit amounts in excess of $20,000 to be released from trust. 

The Receiver is in the process of obtaining and reviewing the deposit insurance and bond information as part of its overall project assessment and will provide further comments and information once available.

Pre-Construction Contracts

The Receiver understands that the Cresford Group entered into pre-construction unit purchase contracts with numerous persons in respect of the Clover, Halo and 33 Yorkville projects.  No decisions have been made in respect of these contracts.  Persons who made pre-construction purchases of units in the projects are asked to e-mail the Receiver at project.yorkville@pwc.com, with details of your contract and your contact details.  In due course once decisions have been made on the path forward for each of the projects, you will be contacted by the Receiver regarding the status of these contracts.   Further information will be made available on the status of the receiverships on this website as it becomes available.

2020年5月6日情况

鉴于每个项目的后续安排有待确定，接管人将不再收取买家的定金。本网页将适时发布接管工作的进一步情况。

2020年5月6日情況

鑒於每個項目的後續安排有待確定，接管人將不再收取買家的定金。本網頁將適時發佈接管工作的進一步情況。

2020年4月21日情况

预售合同

接管人根据接管申请人提交的资料以及相关审阅工作了解到，918名买家已就33 Yorkville项目签署了买卖协议，并支付了总金额为加元1.6亿的保证金。

公寓法令（安大略）第81（7）条规定，保证金须在申报者“确定已就保证金提供指定类别的担保……”以及满足其他条件前被托管（通常由律师事务所托管）。目前，我们了解到，根据保证金托管协议，33 Yorkville项目的加元310万保证金现由律师事务所Bennett Jones LLP作为托管代理人托管。

上述法令的“指定担保”包括由Tarion Warranty Corporation（政府的保证机构“Tarion”）为每名买家首2万元保证金提供的保险。“指定担保”还包括保险公司为从托管账户中释放的每名买家保证金超出2万元部分提供的保险。

接管人通过对接管申请所提交的资料进行的初步审阅了解到，33 Yorkville的项目主体通过Westmount Guarantee Services Inc. (“Westmount”)向Tarion发出了担保书，以取得Tarion为买家提供的保险。此外，33 Yorkville项目主体还为从托管账户中释放的超出2万元的保证金部分与Westmount安排了额外的保单。

接管人正尝试获取及审阅保证金保险及担保书的信息，这是接管人整体项目评估的一部分，并将于其后提供进一步的意见和信息。

2020年4月21日情況

預售合同

接管人根據接管申請人提交的資料以及相關審閱工作瞭解到，918名買家已就33 Yorkville項目簽署了買賣協定，並支付了總金額為加元1.6億的保證金。

公寓法令（安大略）第81（7）條規定，保證金須在申報者“確定已就保證金提供指定類別的擔保……”以及滿足其他條件前被託管（通常由律師事務所託管）。目前，我們瞭解到，根據保證金託管協議，33 Yorkville專案的加元310萬保證金現由律師事務所Bennett Jones LLP作為託管代理人託管。

上述法令的“指定擔保”包括由Tarion Warranty Corporation（政府的保證機構“Tarion”）為每名買家首2萬元保證金提供的保險。“指定擔保”還包括保險公司為從託管帳戶中釋放的每名買家保證金超出2萬元部分提供的保險。

接管人通過對接管申請所提交的資料進行的初步審閱瞭解到，33 Yorkville的項目主體通過Westmount Guarantee Services Inc. (“Westmount”)向Tarion發出了擔保書，以取得Tarion為買家提供的保險。此外，33 Yorkville項目主體還為從託管帳戶中釋放的超出2萬元的保證金部分與Westmount安排了額外的保單。

接管人正嘗試獲取及審閱保證金保險及擔保書的信息，這是接管人整體項目評估的一部分，並將於其後提供進一步的意見和資訊。

预售合同

接管人了解到，Cresford Group 与众多买家就 Clover、Halo 及 33 Yorkville 项目签署了期房购买合同。目前接管人尚未决定如何处理该等合同。请已购买前述项目期房的买家发送电子邮件至接管人邮箱 project.yorkville@pwc.com，并提供您的合同信息及联系方式。接管人将于就每个项目的下一步行动有所决定时，联系您并通报合同的相关情况。本网页将于适当的时候，发布有关接管工作的进一步消息。

預售合同

接管人瞭解到，Cresford Group 與眾多買家就 Clover、Halo 及 33 Yorkville 項目簽署了期房購買合同。目前接管人尚未決定如何處理該等合同。請已購買前述項目期房的買家發送電子郵件至接管人郵箱 project.yorkville@pwc.com，並提供您的合同信息及聯繫方式。接管人將於就每個項目的下一步行動有所決定時，聯繫您並通報合同的相關情況。本網頁將於適當的時候，發佈有關接管工作的進一步消息。

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