A court hearing over whether Commonwealth Campus Corp. should post security of $50,000 to cover the legal costs of the BID Group of Companies if it loses a legal challenge was adjourned indefinitely.
It was supposed to be held Monday in Kelowna, but in a requisition filed on Friday, both sides consented to cancel the hearing.
Commonwealth is suing BID, claiming it reneged on a promise to buy land adjacent to the Wood Innovation and Design Centre for $4.1 million. BID has replied that the transaction was subject to making the short list of proponents competing for the contract to construct the WIDC, which did not happen.
Commonwealth is seeking a court order forcing BID to either live up to the agreement and cover the cost of damages caused by the delay, or to allow Commonwealth to keep a $150,000 deposit and have BID pay damages for breach of contract.
The matter has not yet been set for trial.
