The River Run Vistas Class Proceeding

Code Hunter LLP has filed a proposed class proceeding in the Court of Queen’s Bench of Alberta (Action No. 1401-06297) on behalf of investors in a real estate development project located in the Crowsnest pass area of Alberta known as River Run Vistas.

The Statement of Claim alleges fraud and negligence on the part of defendants William L. Bradley, Colin J. Becker, William G. Taylor and Gateway Appraisal Ltd.

The Statement of Claim alleges that defendants Bradley and Becker solicited investment in River Run Vistas through various corporate entities under their control, based on land appraisals prepared by Taylor and Gateway that overvalued the lands by $10-13 million. The investments were to be secured by mortgages on title that were never registered.

The claim further alleges that the River Run Vistas project did not ever proceed as represented by the defendants, nor were investors’ funds utilized in furtherance of the development, and accordingly that Bradley and Becker negligently and fraudulently misrepresented the investment opportunity, and conspired to defraud and deprive investors of their funds.

The proposed representative plaintiffs and class members are certain individuals, estates and/or corporate entities who invested personal capital to finance the River Run Vistas development, and who as a result of the conduct of these defendants lost the principal amount and all or substantially all of the benefit of their personal investment (the “Class Members”).

The proposed Class Proceeding seeks financial compensation on behalf of proposed Class Members in the amount of approximately $14 million.

Allegations set forth in the Statement of Claim have not been proven in Court. A copy of the Statement of Claim and Statements of Defence filed by each of the defendants can be found here:

Statement of Claim, filed June 6, 2014

Statement of Defence of Taylor and Gateway, filed July 8, 2015

Statement of Defence of Bradley and Becker, filed October 8, 2015

The defendants Bradley and Becker were assigned into bankruptcy in November 2010. On August 24, 2016, the Court granted an application brought by the proposed representative plaintiffs to lift stays of proceedings applicable to these defendants pursuant to provisions of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3. A copy of the Reasons for Judgment of the Honourable Madam Justice J. Strekaf granting the plaintiffs application can be found here:

Reasons for Judgment, filed August 24, 2016

To contact our firm or to request further information and updates as a potential Class Member, please refer inquiries to one of the following lawyers:

, Partner
, Associate

By contacting our firm or requesting information and updates as a potential Class Member, you do not take on any financial obligation related to this lawsuit. Any information you provide our firm will be kept confidential.

To learn more about Code Hunter LLP, please explore our website.