TORONTO, Aug. 22, 2017 /CNW/ - David Franklin has made malicious, untrue and highly misleading allegations aimed at damaging the reputations of Fortress Real Developments (Fortress) and founders Jawad Rathore and Vince Petrozza.
Earlier this month it came to Fortress's attention that Mr. Franklin was stating to third parties in the mortgage brokerage and real-estate development industries that the Law Society of Upper Canada had determined that mortgages on title to Fortress projects were fraudulent. The Law Society of Upper Canada confirmed they never made such a statement or determination. David Franklin's statements were untrue.
Fortress immediately commenced an action and brought an urgent motion for an injunction to restrain Mr. Franklin from making these statements. At the initial hearing of the motion, Mr. Franklin filed two affidavits that included false claims that a senior investigator at the Law Society of Upper Canada told him in a meeting in January 2016 that the mortgages on title to Fortress projects were fraudulent. Fortress's counsel sent a courtesy copy of the affidavits to the Law Society at which time they learned that transcripts of the January 2016 meeting existed. Fortress brought the existence of the transcripts to the attention of Justice Carole Brown, the judge hearing the motion.
Justice Brown ordered, with the consent of David Franklin, that until such time as a motion is heard on a fuller record, Mr. Franklin cannot state that a senior investigator at the Law Society of Upper Canada made these false statements about Fortress projects. Mr. Franklin was also directed to disclose forthwith the names and contact information of all persons to whom the statement was made.
Fortress President and CEO Jawad Rathore commented, "Mr. Franklin has displayed a pattern of false statements in regards to Fortress and its owners. He has continued to spread false information about Fortress in our industry and to members of the media. This ruling is the first step to making sure he isn't allowed to continue his defamatory commentary."
Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes real estate development opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, commercial and industrial market segments. For more information, visit www.fortressrealdevelopments.com
SOURCE Fortress Real Developments
For further information: Natasha Alibhai, Fortress Real Developments Inc., natasha@Fortressrdi.com, Phone: (905) 787-9266 ext. 235