Special Report
Editorial
Op-Ed
Opinion
Columns

Politics
Literature
Music
Art & Culture
Sikh Religion
Rights
1984
Books
Education
Business

Entertainment
Lifestyle
Travel
Health
Heritage
Sports
Kids Corner

Panjab
India
Pakistan
South Asia
US of A
Canada
Asia-Pacific
UK
Europe
Middle East
Africa
World
 

Archives
Newsletter
Advertise

Obituaries

Feedback
Contact Us
About Us
Site Map

Malik pays $1.3m to redeem foreclosed assets 

VANCOUVER: Well known activist Ripudaman Singh Malik has paid the B.C. government $1.3 million towards redeeming two mortgages that were the subject of a foreclosure order. As part of an agreement with the government, Malik has another 90 days to repay roughly $300,000 still owed on the secured portion of the amount Malik borrowed for his legal defence at his criminal trial, Vancouver lawyer Bruce McLeod was quoted in the local media as saying.

Malik owes a further $5.2 million in unsecured loans made by the government for his criminal defence lawyers.

In April the B.C. Supreme Court ordered that he repay the $5.2 million but he plans to appeal that order to the B.C. Court of Appeal in November, said McLeod.

The two mortgages are for a hotel in Harrison Hot Springs and a warehouse on Hamilton Street in Vancouver. The foreclosure order on the two properties was granted by the B.C. Supreme Court in July 2008.

The $1.3 million was paid to the government on Friday by Khalsa Developments Ltd. on behalf of Malik. Khalsa is a company controlled by Malik and his family.

Malik is himself claiming damages for wrongful prosecution and seeks to set off his claim for damages against the the claims of the attorney-general, said McLeod.

14 October 2009
 

Bookmark with

Reddit    Yahoo     Furl    Delicious