An Ontario company that put down a deposit to buy a luxury hotel in Richmond, B.C., pulled out of the deal worth tens of millions of dollars weeks later because of “uncertainty” caused by the landmark Cowichan Tribes Aboriginal title ruling, according to the marketers of the property.
Court documents show that the 14-storey Versante Hotel, close to Vancouver International Airport, was instead bought by a Hong Kong purchaser in October for the lower price of $51.5 million.
