Part 25 published on 01/02/09
Court prepared to order winding up of strata corporation
The owners of this three-unit strata property did not agree on how to manage the property. Significant repairs were required. An administrator was appointed. One of the owners wanted to carry out the required repairs. The other two did not.
After a review of all of the circumstances, the Court said: “It is my conclusion that viewed overall, the cost of repairs in this case will likely significantly exceed the associated increase in value.”… “The good intention of the Strata Property Act notwithstanding, this strata property is dysfunctional both on a structural and organizational level.”… “I am prepared to order the winding up of this strata property but before doing so, I wish to allow counsel and the parties to contemplate the possibilities as there may be better ways to realize their respective interests.”