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By Mogadon Megalodon (anonymous) | Posted August 17, 2011 at 10:23:11
"Gordon said the condo corporation recently reached an out-of- court settlement of a suit against Alterra for more than $1 million for alleged construction deficiencies in the building, including the garage. She said the condo board decided it was better to take a negotiated package than to spend another $200,000 in legal fees to fight in court with no guarantee of a better settlement."
If I'm reading that right, Alterra paid $1m plus toward construction deficiencies and the 103 residents paid $1m plus toward construction deficiencies. Halvsies isn't idea, but as the condo corp realized, it's probably a pragmatic solution once you've already moved in. I'm sure Tarion made a meal out of this case.
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