Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 17, 1990, Winnipeg, Manitoba Call for details special rates May apply to seniors rates subject to confirmation certain minimums conditions apply no fees i winning 7884040 i Brandon 7284840 i told from 18003921388 Winnipeg free press january 1990 pages 1726 Philip business editor Broadway Block Deal completed by Many one of the most complicated Winnipeg real estate transactions in some time has finally been a group of Winnipeg headed by Barry presi Dent of the Winnipeg have acquired the old investors group head office building at 280 Broad the Deal also includes the rest of the Block on the South Side of Broadway Between Donald and Smith including two Small apartment three strategically located parking lots and two Small buildings currently housing a drug store and a the Purchase Price for the pack age of buildings was but sources say the total will end up Between million and several interesting elements made the which commenced with an offer to Purchase last so the investors build ing has been vacant since Early 1988 when the financial services company moved to its new location at the Corner of Portage Avenue and memorial although there had been interest in the properties from other none were willing to take the plunge before they had tenants lined up to fill the the real estate consultant acting for Shenkarow Joe of Aronovitch a subsidiary of Bachman says he has a commitment to have the building filled within a Shen Karow is a partner in Bachman but before anyone moves into the More than million will be spent on upgrading the most Martin Cash important part of the upgrading will be the removal of Asbestos that task is already underway and should be completed before the part of the difficulty in Selling the real estate was that there were several parties involved in each Side of the the vendors were guaranty realty investments who apparently held assets for other including a group of Eastern pension diner believes that although there Are some new office buildings about to be 280 Way now contains the largest Block of downtown office space available in the the prime prospective tenant is health and welfare Cana who will be looking for space in the near Early in Shenkarow was also part of group of investors who purchased a vacant lot on the North Side of Broadway a few blocks East of the current word is they will hold off on developing that land until they can find a prestigious tenant who is looking for a Signa Ture add while the Sale of the old investors head office might have been the most complicated Deal to one of the most drawn out and most talked about deals has to be the on again off again Sale of the Marl Borough the Maryborough was a Barry Shenkarow Heads group which bought old investors cording to the former As of but they were unaware that the manager whom the buyers had lineup to run the hotel came to Winnipeg on right in the midst of that dreadful cold and decided she would have none of she flew Back to Van Couver and effectively put the Deal on perhaps for As Long As six it May sound a Little farfetched that a multimillion Dollar Deal would be scuttled because a key employee Doest like the when the precise Iden Tity of the purchasers is not even known by the it becomes a Little easier to one of the players on the Side of the Purchas whose name is connected with the liquor Edgar refuses to return reporters phone Len who was the controller for the is now the interim manager As the vendors still own the Layne says the purchasers have already paid a penalty and the conditions on the Sale have now been extended until june Nan Max Johnsons Winnipeg travel the great Canadian travel company has scram bled together a tour to Czechoslovakia for february 1119 to coincide with a major Industry Trade show in the czech shortly after the end of the Iran Iraq Johnson also organized a trip to persian Gulf City of Dubai for local business people with goods that May have been in Short Supply though Johnson agrees it has never been difficult to travel to the huge annual Trade show will be the first one to take place in the new atmosphere of openness in Eastern As he it will be unique in that the Eastern bloc countries have admitted that they Are not self suf Focient and can use some Western new Issue Quarry Oaks limited partner ship and founding member slips in Golf course country club divided into units minimum investment this and does not constitute an offer to sell nor a solicitation to buy any no commitment to Purchase or sell can be made until a receipt for the final prospectus has been prospective investors should consult the prelim Inary prospectus available by contacting any member of the Selling group for Complete details of the Premier Canadian securities 600330 Mary Manitoba r3c 3z5 9494700 fax 9430740 Midland Doherty 9420311 fax 9432350 Richardson greenshields 9345311 fax 9345875 Prudential Bache 9448207 fax 9571856 rec Dominion securities Pemberton fax 9479540 Walwyn Stodgell co Lirane Murray 9421251 fax 9490297 Malco securities 9i72666 fax 9471954 where Fine food service accommodation is a tradition renovated renovated 35200 people Canadian holidays a world of vacations the vegas machine Winnipeg departures 3 or 4 nights air Imperial air Only prices Are per hotel package Price Are based on per person double come Fly with us Call your local travel agent for and reservations Campeau Sparks resentment by Dean Beeby the Canadian press some Canadian suppliers to the retail Market say the Campeau disaster has fuelled Anticano Dian sentiments among americans already resentful of heavy foreign everybody been discussing said Martha a Vancouver based designer who was at a new York Trade show yesterday displaying her lines of in sort of embarrassed because some people said to me you know if it want for the canadians coming Down and buying our store there have been these there sort of saying the canucks Are screwing up our in Campeau retail divisions in the one of which owns the 17store Bloomingdale filed for Protection from creditors Mon Day after leveraged buyouts by Ca Nadian founder Robert Campeau began to unravel because of heavy sturdy supplied jewelry to Bloomingdale until last when she stopped doing business with the Chain partly because of fears she would not be i think its a said clothing magnate Peter re Ferring to the ant Canadian senti ments he has encountered in the Wake of the Campeau Nygard is the founder of Nygard International a Canadian cloth ing firm that began in Winnipeg and has expanded into the United Robert Campeau was Able to launch his leveraged buyout Only with the help of willing Nygard noted in an interview from his company offices in los an some americans were a party to so they cant go around blaming it on foreign its their own internal system that allows this thing to Nygard decided last summer not to pursue deals with Campeaux retailing chains to protect his com Pany from potential bad if it came in and we were not sold then we would offer the business to but there has not been a very aggressive Selling Campaign by us in the last six Nygard International May be fac ing minor losses because of the Campeau bankruptcy be upbeat Wilder appears in court by Catherine Mitchell a buoyant Dara Wilder the Man accused of setting up an attempted i million tax evasion says he can prove his research company is being made a political this will evolve into the greatest Case of political interference in can said after appear ing before Madam Justice Ruth Krindle of Manitoba court of Queens Bench the court appearance was Neces sary to Transfer Wilders bail order and charges from provincial following his direct indictment last week by the Federal crowns president of Morri based organic research is charged with 248 counts of attempted tax evasion under the income tax he also faces one charge under the criminal code for dealing in fraudulent that charge involved documents submitted to Revenue Canada on behalf of investors in the in Wilder gathered 250 invest who formed organic research partnership and sunk about million into his Plant in Morris that was to find a cheap Way to extract sugar from the charges flow from the Mil lion Worth of tax credits and deductions the investors tried to collect from Revenue new equipment the tax claims were filed after Wilder allegedly gave the investors documents certifying that their Money was spent on new equipment for the Morris the partners then claimed the business expenses As tax but Revenue Canada rejected the Winnipeg lawyer Joel who represents the said the department has claimed the equipment was the investment which operated much like the no defunct scientific research tax was dubbed a scam by Revenue Canada in rejecting the 1985 tax the department said organic research plans were designed solely for its tax a upbeat Wilder contrasted sharply with the unshaven Man who was ushered into court in november in a Wilder claimed his Back was Hurt when Vancouver police arrested him in after yesterdays he Shook hands and introduced himself to his Wilder said the Morris which never began could have been As successful As similar plants he built in and in Wilder said he and three lawyers were told by a Federal official in 1986 organic research project would Bear the Brunt of ridicule the tories planned to Heap on the former Liberal administration that created the Sruc while Wilders investors did not buy into the Sruc he said Deputy taxation minister Harry Rogers told him the tories planned to use it As an example of what such tax credit and deduction schemes can that will All come out in Wilder leaving the court Revenue Canada provided you with false information everything you got was Winnipeg lawyer Harry one of the three Wilder said heard confirmed he attended the meeting but refused to discuss what was involved in other resource research and development said the charges and the investigation leading to them have Cost him up to million in lost Wilder full of fight ;