La Facture: 3600, Van Horne: a co-ownership going bankrupt
3600, Van Horne: co-ownership going bankrupt (2008).
Mᵉ Papineau is participating as an expert.
Much have been made of the financial difficulties of some condominiums, but the situation at 3,600 Van Horne St. is worse than all the others. This project, subsidized by the city of Montreal, is currently sinking into a financial abyss.
When the owners bought in 2006, they believed that the building was fully renovated. Two years later, they learn that significant work must be undertaken, that problems accumulate and that the contingency fund is empty. Many owners are caught in the throat and are considering bankruptcy.