KELOWNA – It appears a controversial development on the outskirts of Kelowna is in financial trouble.
A foreclosure lawsuit has been launched in BC Supreme Court against the developer of the Kelowna Mountain project.
Several corporate entities linked to Mark Consiglio are also named in the Petition to the Court.
It was filed by Melvin Haber, Robert Sauer, Craig Sheridan, Dr. Steven L. Kirzner INC. and Mackoff Management Services (2012) INC.
They allege payments have not been made on mortgages and other loans totaling $4,435,993.18 with interest of $2,747.59 accruing daily.
The petitioners are seeking a court order to sell a 480 acre Kelowna Mountain property used to secure the loans.
And in a separate lawsuit, Tri City Capital Corporation claims Consiglio, Kelowna Mountain Development Services LTD. and a numbered company have defaulted on a mortgage.
Tri City claims it’s owed $618,152.80.
A call to Consiglio’s Kelowna lawyer was not returned.
A neighbour says Consiglio and his family recently moved out of their Mission neighbourhood home, which is also the subject of a mortgage foreclosure lawsuit.
Consiglio has apparently moved to Vancouver where he is said to have purchased a storage company.
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