LitigationMy reading of their 1Q/2009 MD&A is they are not yet taking this to court. They said litigation "may" occur. They have only served notice of claim, following the process specified in the original acquisition agreement.
They already had one claim against the escrow funds for an accounts receivable collectability issue at the Kirby Center. First disclosed in the 3Q/2007 MD&A. Also discussed on page 20 in the 3Q/2008 MD&A. I assume this is not yet resolved and so is now quite old. Maybe the new CEO will get this one moving too.
This latest claim on escrow funds is described as at the Palladium Center, which I assume means not at Kirby. That likely means the latest claim relates to the insurance company not paying. Interesting.