TORONTO, July 17, 2015 – Talon International Development Inc., whose belief in Toronto a decade ago began the city’s transformation into a global 5-star destination, is underscored by the recent positive rulings of the Ontario Securities Commission (OSC) and the Superior Court of Ontario.
On July 10, 2015, Justice Paul Perell’s 50-page judgment found in favour of Talon Investments, dismissing a motion brought by two of 24 plaintiffs who had purchased hotel units at the property. The judgment concluded that all branches of the claim failed and that any cash flow projections provided to potential hotel unit buyers were neither commitments, guarantees nor forecasts and that Talon had sold the hotel units in the manner as directed by the Ontario Securities Commission.
“We have been vindicated by Justice Perell’s ruling and will continue to move forward to make this property one of the world’s most acclaimed addresses,” says Neil Labatte, President and CEO, Talon International Development.
Said Talon’s lawyer Symon Zucker of Danson & Zucker, “The Court further dismissed separate claims against Talon Chairman Alex Shnaider, former company President Val Levitan and Donald Trump, finding there was no basis for a suit against any of them.”
The vision of global entrepreneur Alex Shnaider captivates Toronto by its signature architecture and landmark stature. Located at one of the city’s key intersections (Bay and Adelaide Streets), the Trump property is situated in the heart of the city’s downtown business district, and is recognized by its unprecedented level of services and amenities offered to its guests.
About Talon International Development Inc.:
Toronto-based Talon International Development Inc. is a real estate development firm comprised of Canadian and international investors who have holdings in a variety of industries ranging from shipping and metallurgy to high technology. Led by Chairman Alex Shnaider, who has an enviable and proven track record in creating, developing and building businesses domestically and internationally—Talon has assembled a first-class team of talented professionals to ensure Trump International Hotel & Tower Toronto® is a prosperous venture which will remain a mainstay on the city’s timeless landscape for generations to come
David Eisenstadt / Gea Koleva / Hailey Chan
416-696-9900 ext. 36 / 26 / 29
deisenstadt@tcgpr.com / gkoleva@tcgpr.com / hchan@tcgpr.com

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