Winnipeg developer appeals to Supreme Court to hold city accountable for delays in Parker lands project
A developer who had previously sued the City of Winnipeg over claims that its employees slowed the progress of a residential development in Fort Garry has filed an appeal with the Supreme Court of Canada.
In July 2023, a Court of King's Bench judge decided that two city planners intentionally stalled development of the former Parker lands, a 19-hectare parcel that Andrew Marquess of Gem Equities had planned to turn into a 1,900-unit development called Fulton Grove.
The city was ordered to pay Marquess $5 million.
The city filed an appeal. In April, a Manitoba Court of Appeal judge decided that evidence presented at trial fell short of proving the city planners were misfeasance in public office, and reversed the original decision.
The decision also stated that there was "nothing nefarious" about city planners meeting with River Heights-Fort Garry Coun. John Orlikow to give and receive feedback on the project.
Now the developer hopes to reverse that decision.
On Monday, the developer's lawyers filed a 242-page appeal document to the Supreme Court, that the city planners were "acting deliberately and unlawfully in an effort to slow down or thwart the Plaintiffs' development with disregard for the harm their actions were causing the Plaintiffs."
This document reaffirming claims Marquess made in his 2018 statement of claim and hearings in 2021.
The city had argued that there was no evidence that its employees were unlawfully and deliberately trying to slow down the development of the land, which Marquess had acquired in a 2009 swap with the city for land he owned in Fort Rouge.
CBC News has reached out to the City of Winnipeg, but did not hear back prior to publication.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
25 minutes ago
- Bloomberg
SAP and IBM Unit Ensnared in $800 Million Quebec IT Fiasco
Software company SAP SE and an IBM Corp. subsidiary are embroiled in a C$1.1 billion ($810 million) technology boondoggle that triggered both a public inquiry and an anti-corruption investigation in Quebec. The Canadian province's Treasury Board President Sonia LeBel also ordered Quebec's procurement watchdog to conduct an 'in-depth analysis' of how the government awards technology contracts, she announced Monday. The mandate came after the ongoing inquiry revealed cost overruns, potential conflicts of interest and unexplained contracts for a bungled IT upgrade.


Forbes
an hour ago
- Forbes
Buy Or Sell FactSet Stock Ahead Of Upcoming Earnings?
CANADA - 2025/06/03: In this photo illustration, the FactSet Research Systems logo is seen displayed ... More on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) FactSet Research Systems (NYSE:FDS), a financial data and technology firm that offers software and information for investment management, is scheduled to release its Q3 earnings around June 23 (August fiscal year end). According to consensus estimates, earnings are projected to be $4.30 per share, a slight decline from $4.37 during the same period last year, while revenues are anticipated to rise by 5.1% year-over-year to $580.7 million. This growth is expected to be fueled by heightened demand from wealth and institutional buy-side clients, with organic subscription value – which refers to the recurring revenue the company anticipates generating annually from its existing subscription agreements – also likely to increase. The company possesses a current market capitalization of $16 billion. Revenue for the past twelve months stood at $2.3 billion, and it was profitable in operational terms, reporting $711 million in operating profits and a net income of $543 million. Nevertheless, for those seeking potential upside with less volatility compared to individual stocks, the Trefis High Quality portfolio offers an alternative – having outperformed the S&P 500 and yielding returns exceeding 91% since its inception. View earnings reaction history of all stocks Some insights regarding one-day (1D) post-earnings returns: Further data concerning observed 5-Day (5D) and 21-Day (21D) post-earnings returns is compiled along with the statistics in the table below. FDS 1D, 5D, and 21D Post Earnings Return A relatively less risky approach (although not beneficial if the correlation is low) is to assess the correlation between short-term and medium-term post-earnings returns, identify the pair with the strongest correlation, and execute the corresponding trade. For instance, if 1D and 5D exhibit the highest correlation, a trader can choose to go 'long' for the next 5 days if the 1D post-earnings return is positive. Here is some correlation information based on a 5-year and 3-year (more recent) time frame. Note that the correlation 1D_5D refers to the relationship between 1D post-earnings returns and the subsequent 5D returns. FDS Correlation Between 1D, 5D, and 21D Historical Returns Discover more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000), generating strong returns for investors. Additionally, if you're looking for potential upside with a smoother experience compared to an individual stock like FactSet Research Systems, consider the High Quality portfolio, which has surpassed the S&P, achieving over 91% returns since inception.


Forbes
an hour ago
- Forbes
Buy PayPal Stock At $70?
CANADA - 2025/02/12: In this photo illustration, the PayPal logo is seen displayed on a smartphone ... More screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) PayPal (NASDAQ:PYPL) shares have underperformed this year, falling approximately 17% year-to-date, in contrast to the S&P 500, which has risen around 2% during the same timeframe. PayPal's financial results have been varied. In Q1 2025, the firm reported earnings of $1.33 per share, surpassing expectations, although revenue fell short, totaling $7.8 billion—an increase of only 1% year-over-year—due to the company's focus on profitability over volume, leading to a reduction in its lower-margin revenue streams. The U.S. trade conflict has affected PayPal by creating economic uncertainty that may curb consumer spending and adversely impact cross-border e-commerce and payment volumes, which are essential for PayPal's income. Additionally, competition has been intensifying with platforms such as Apple Pay and Shopify making inroads into online checkout, which challenges PayPal's market leadership. Nonetheless, PayPal stock appears quite appealing at its current market price of approximately $71. We reach this assessment by evaluating the present valuation of PYPL shares alongside its operational performance in recent years and its current as well as historical financial health. Our evaluation of PayPal based on critical metrics of Growth, Profitability, Financial Stability, and Downturn Resilience indicates that the firm possesses a strong operational performance and financial standing, as outlined below. However, if you are looking for potential gains with less volatility than individual stocks, the Trefis High Quality portfolio offers an alternative option - it has outperformed the S&P 500 and yielded returns surpassing 91% since its launch. Based on what one pays per dollar of sales or profit, PYPL stock appears slightly undervalued relative to the broader market. • PayPal boasts a price-to-sales (P/S) ratio of 2.3 compared to a figure of 3.0 for the S&P 500 • Furthermore, the company's price-to-free cash flow (P/FCF) ratio stands at 9.9, while the S&P 500 registers at 20.5 • Additionally, it has a price-to-earnings (P/E) ratio of 17.8 as opposed to the benchmark's 26.4 PayPal's Revenues have experienced some growth in recent years. • PayPal's top line has grown at an average rate of 7.8% over the past 3 years (versus a 5.5% increase for the S&P 500) • Its revenues have increased by 6.8% from $30 billion to $32 billion in the last 12 months (in comparison to 5.5% growth for the S&P 500) • Additionally, its quarterly revenues grew by 4.2% to $7.8 billion in the latest quarter from $7.7 billion a year earlier (compared to a 4.8% increase for the S&P 500) PayPal's profit margins are approximately at the median level for firms in the Trefis coverage universe. • PayPal's Operating Income during the previous four quarters was $5.8 billion, representing a moderate Operating Margin of 18.1% (versus 13.2% for the S&P 500) • PayPal's Operating Cash Flow (OCF) for this duration was $7.5 billion, indicating a moderate OCF Margin of 23.4% (versus 14.9% for the S&P 500) • For the last four-quarter period, PayPal's Net Income was $4.1 billion, which demonstrates a moderate Net Income Margin of 13.0% (compared to 11.6% for the S&P 500) PayPal's balance sheet appears robust. • PayPal's Debt stood at $9.9 billion at the close of the most recent quarter, while its market capitalization is $70 billion (as of 6/13/2025). This results in a strong Debt-to-Equity Ratio of 13.4% (compared to 19.9% for the S&P 500). [Note: A lower Debt-to-Equity Ratio is preferred] • Cash (including cash equivalents) accounts for $11 billion of the $81 billion in Total Assets for PayPal. This results in a strong Cash-to-Assets Ratio of 13.3% (versus 13.8% for the S&P 500) PYPL shares have felt an effect that was slightly worse than the S&P 500 index during certain recent downturns. While investors remain hopeful for a mild landing by the U.S. economy, what could transpire if another recession occurs? Our dashboard How Low Can Stocks Go During A Market Crash illustrates how key stocks performed during and after the last six market crashes. • PYPL shares declined 41.9% from a high of $308.53 on July 23, 2021, to $179.32 on December 1, 2021, compared to a peak-to-trough decline of 25.4% for the S&P 500 • The stock is still not back to its pre-Crisis high • The highest price the stock achieved since then was 197.35 on December 8, 2021, and it is currently trading around $71 • PYPL shares fell 20.3% from a peak of $121.30 on July 24, 2019, to $96.64 on October 23, 2019, contrasted with a peak-to-trough drop of 33.9% for the S&P 500 • The stock completely rebounded to its pre-Crisis peak by February 14, 2020 In conclusion, PayPal's performance across the outlined parameters is summarized as follows: • Growth: Strong • Profitability: Neutral • Financial Stability: Very Strong • Downturn Resilience: Neutral • Overall: Strong This correlates with the stock's moderate valuation, which leads us to conclude that it is fairly priced, suggesting that the stock could be a relatively solid buy. Although there may be some potential upside for PYPL shares, the Trefis Reinforced Value (RV) Portfolio has outperformed its all-cap stocks benchmark (comprised of the S&P 500, S&P mid-cap, and Russell 2000 benchmark indices), delivering strong returns to investors. Why does this happen? The quarterly rebalanced mix of large-, mid-, and small-cap RV Portfolio stocks has offered a responsive means to capitalize on favorable market conditions while mitigating losses when markets decline, as detailed in RV Portfolio performance metrics.