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Project Name: #1140 Micheal Graye - Wailea
Lender update
April 28, 1998
Project Status
Mr. Graye withdrew his offer of co-operation to list for sale his Vancouver residence, Whistler condominium and Wailea condominium. The Hongkong Bank of Canada holds a prior charge on the Vancouver and Whistler properties and have commenced a foreclosure action on both properties. The former owner of the Wailea condominium holds the first mortgage on the property. Our lawyer has commenced foreclosure action on all three properties with a request to the Court that we be allowed conduct of sale on the Vancouver and Whistler properties in order to maximize recovery to the second mortgage holders.
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