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COLCO NEWS RELEASE

COLCO: COALITION OF LEAKY CONDO OWNERS www.myleakycondo.com
NEWS RELEASE IMMEDIATE RELEASE 2000.09.05

This week leaky condo owners eagerly await an announcement from John Manley, the minister responsible for the Bankruptcy and Insolvency Act, during his visit to British Columbia. 
"Nothing could be more important for Mr. Manley to be coming here, than to close the flood gates on the thousands of family bankruptcies that have resulted from whopping leaky condo assessments," said John Grasty of COLCO. 

According to Bankruptcy Trustees throughout the Lower Mainland, over thirty percent of their business continues to be unequivocally as a direct result of leaky condos. 

Randy Greenwood of Port Moody said,  "In my building alone there has already been far too many bankruptcies and foreclosures, and today I've been told about another young couple just about to go under; These are my neighbours for God's sake!" 

Realtors advertise, offering "Free Hotlists" of the thousands of condos lost by hard working, self reliant British Columbian families, many who now rely on social services. 

M.P., Hedy Fry's riding, for example, may have the most leaky rotten condos in all of Canada. 

Compensation and Accountability to Soaked Homeowners (CASH) spokesperson, Carmen Maretic (861-8539), said,  "It would actually cost the federal government less to help pay for repairs, than what CMHC is paying to satisfy the shortfall to the banks on mortgages it has guaranteed." 

Could it be that the federal government would actually SAVE taxpayers money by helping pay for leaky home repairs? 

The Coalition of Leaky Condo Owners hopes that Mr. Manley acts in the spirit of true Liberalism by protecting leaky condo owners from complete financial devastation through bankruptcy. 
  

COLCO Contacts: 

Dr. James Balderson        739-4190 
Sandra Lacouvee             683-0823 
John Grasty                      720-8684 

COLCO site: www.myleakycondo.com  

Updated June 17, 2000
info@myleakycondo.com
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