Kirk Penton, Castanet –  A court-appointed liquidator has ordered the sale of 10 single-family lots in Kelowna’s Pandosy Village.

C. Cheveldave & Associates is responsible with liquidating Witmar Holdings, which, according to court documents, has been ordered to sell its assets “as a result of the long-running disputes and litigation among the shareholders of the company, and the inability to find a workable and acceptable solution to divide the company among its shareholders.”

The properties, which can be purchased together or separately, are located next to Pandosy Waterfront Park on three separate blocks. Eight of the properties are on Meikle Avenue, while the other two are on Cedar Avenue.

William Wright Commercial and CBRE Limited are marketing the properties, which they say offer “investors strong redevelopment potential in one of Kelowna’s most upscale and sought after neighbourhoods.”

The total size of the land is 116,646 square feet, with the smallest lot covering 7,100 square feet.

The dispute that led to the ordered sale of Witmar Holdings assets was because four siblings—Walter Weisstock, Antony Weisstock, Albert Weisstock and Silvia Gerard—could not decide how to run the company after the passing of their parents, who incorporated the business in 1981.

Last fall C. Cheveldave & Associates ordered the liquidation of Dilworth Inn, Recreation Inn and a Harvey Avenue property. The liquidator has approved the pending sale of Dilworth Inn for $6.2 million, and judge will make the final decision on Wednesday.

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Read the full article published by Castanet.