Group led by Senators owner launching lawsuit over ‘failed’ LeBreton Flats partnership
Posted Nov 23, 2018 07:01:00 PM.
This article is more than 5 years old.
Capital Sports Management Inc. is filing a claim against Trinity Development Group Inc. and its founder John Ruddy, seeking damages of $700-million, arising out of what it calls 'a failed joint venture' between Trinity and CSMI.
Graham Bird Associates and Graham Bird are also named in the suit, alongside Trinity.
CSMI, the founding partner of RendezVous LeBreton Group, entered into a partnership with Trinity to develop 21 hectares at LeBreton Flats.
The project is being spearheaded by the National Capital Commission.
CSMI said it and Trinity were not able to finalize a master development agreement that would have resulted in the construction of a new sports and entertainment arena, as well as a mix of residential, retail, commercial and hotel properties in Ottawa's downtown core.
The sports management group said the partnership has failed due to 'a number of breaches,' which stem from a conflict of interest. The statement of claim filed by CMSI said the conflict was created when Ruddy and Trinity began developing an abutting property at 900 Albert St., which it sees as being in direct competition with the LeBreton Flats project.
Trinity founder Ruddy has also released a statement.
