Katz Group, Edmonton homeless charity in legal fight over $5-million donation
CTV
An arm of Edmonton Oilers billionaire owner Daryl Katz's business empire is suing the homeless service charity from which it purchased real estate near the NHL team's downtown arena.
An arm of Edmonton Oilers billionaire owner Daryl Katz's business empire is suing the homeless service charity from which it purchased real estate near the NHL team's downtown arena.
Ice District Corporation, a subsidiary owned by the Katz Group, is suing Boyle Street Community Services in a civil lawsuit, claiming it doesn't have to donate an agreed upon $5 million because the charity failed to adequately raise funds to build a new drop-in facility.
It filed a statement of claim in November arguing the Edmonton charity didn't make enough efforts to raise funds for the King Thunderbird Centre that's replacing the former drop-in locale at 10116 105 Ave. that Ice District Corp. purchased from Boyle Street for $5 million in 2021.
Boyle Street announced a $28.5-million campaign to raise money for the project, needing at least $8.5 million to begin it.
As a part of the Ice District Corp. deal with Boyle Street is a conditional $5-million donation, a 'backstop gift' it pledged to pay in case Boyle Street didn't meet its fundraising goals that would decrease dollar by dollar if the charity exceeded its $8.5-million threshold..
On Tuesday afternoon, Boyle Street said in a statement on X, the social media platform formerly known as Twitter, that it's in "an ongoing legal process" with the Katz Group, and that litigation between the two parties "has moved into a private arbitration process."
"We believe this matter will be resolved in a timely way," it said on X.
