Affiliates of Global Pacific Properties Inc., a Hong Kong-based conglomerate, acquired the Centre in Vancouver for the Performing Arts (formerly the Ford Centre in Vancouver). The deal was signed on December 27, 2001, and its value is confidential. The centre was initially built by Livent for $27 million in 1995, and has been for sale by its secured creditors since 1998.
Fasken Martineau DuMoulin LLP acted for Global Pacific and its affiliates in assisting the purchase in negotiating the acquisition agreement, the court approval of the sale and the creation of a new business structure involving Canadian, U.S. and international entities. The Fasken Martineau DuMoulin team included Don Dalik (corporate), Edmond Luke and Jonathan Reitsma (real estate), Marcel Peerson (insolvency) and Frank Schober (tax). The secured creditors (vendors) were represented by Mike Kalef (banking) and Shawn Poisson (insolvency) of Koffman Kalef in Vancouver.