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Kelowna Mountain in foreclosure

FILE PHOTO - Kelowna Mountain owner Mark Consiglio will have to sell some of his properties to pay off a debt to investors.
February 05, 2016 - 3:41 PM

KELOWNA – A Supreme Court Justice has ordered the owner of Kelowna Mountain to sell some of his properties in order to pay back a $4.5 million debt.

Mark Consiglio owes the money to Tri City Capital Corporation who sued Consiglio and his wife Nicola, as well as a numbered company, after they stopped making monthly payments on eight mortgages.

Global Okanagan reports that Consiglio owes around $15 million in lawsuits to other investors who loaned him money to build a 160 acre, $100 million wine park that the Central Okanagan Regional District would not allow. The plaintiffs are asking for the sale of the entire parcel of land on Kelowna Mountain.

Consiglio filed a lawsuit against the regional district first in September 2014 and one year later in November. Justice Heather Holmes denied the first challenge of the regional district’s interpretation of ‘agritourism' and Consiglio alleged the regional district unfairly targeted him and drove him out of business in the second failed appeal.

Six residential properties in Upper Mission as well as two more in West Kelowna will be sold, according to the Jan. 29 foreclosure order.

To contact the reporter for this story, email Adam Proskiw at aproskiw@infonews.ca or call 250-718-0428. To contact the editor, email mjones@infonews.ca or call 250-718-2724.

News from © InfoTel News Ltd, 2016
InfoTel News Ltd

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