Luxury Oakville townhomes caught in crossfire of a messy business divorce

A war of words over the insolvency of a luxury townhouse condominium project in Oakville has pitted a titan of Canadian business against a custom-home builder with anxious buyers caught in the middle.

“I am firmly confident that there was not a single act of financial impropriety in any of Boreal’s financial affairs while under my watch,” said Mr. Bowman in a statement. “There are two sides to every story and I will hopefully be given the opportunity to express mine. Of course I would have preferred to keep our partnership issues private but this action has precluded that from occurring.”

There are a handful of other sites in the Boreal partnership that were being prepped for development, but most of the action is happening at Sheddon.Kesmark’s business was not related to Boreal, but Mr. Price’s business connections to it and the lender Halmont run deep: the three directors of Kesmark include long-time colleagues of his, including current CEO of Brookfield Asset Management J. Bruce Flatt, as well as Brian Lawson and Robert Harding .

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