Under the Real Estate Development and Marketing Act, S.B.C. 2004, c. 41 (“REDMA”), developers are subject to disclosure requirements before marketing a development unit and must correct misrepresentations within their disclosure statements. A disclosure statement generally contains information for the benefit of the purchasers, and depending on the type of development, can include information about the developer, the development property, servicing information, construction dates, and development approvals and financing. But what are the consequences when a developer fails to correct a misrepresentation and subsequently enters restructuring proceedings under the Companies’ Creditors Arrangement Act?
As published in the NRCA’s Northern Construction Connection October 2026 Newsletter and VICA’s e-New.