According to this article, a group of 11 former investors have brought suit against Intrawest ULC and Playground Real Estate. The plaintiffs are claiming that they were persuaded to invest money back in 2004 and assured that the money was safe. They never received their condominiums nor, by the sound of it, their money back.

OUCH is about all I can say about this. Innocent until proven otherwise and we are only getting one side of the story here. Either way, I fear this is going to be a story that will be repeated over and over again in the future. The only difference will be the parties involved. As projects continue to go into bankruptcy, more and more people are going to start bringing action against developers and their sales teams. Sad days are coming for all.

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