Quote:
In its filings, the Katz Group alleges that Boyle Street didn't try hard enough to fundraise and was planning to rely on the backstop gift.
"The charity has not utilized its 'best efforts' in undertaking and completing the capital campaign," it alleges in an amended statement of claim filed Nov. 24, 2023.
The Katz Group claims that Boyle Street initially targeted a small number of private donors, rather than casting a wider net for donations, that its efforts to get government funding were inadequate, and that Boyle Street was fundraising for its endowment fund rather than focusing on raising money for its new site.
It's also alleged that Boyle Street failed to provide regular updates on the status of the fundraising efforts.
The claim asks the court to declare that Boyle Street breached the contract and that the Katz Group doesn't have to pay any part of the $5 million.
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A very Oiler thing to do. Right up there with trading Patrick O'Sullivan when he disclosed his abuse to them and asked for help.
Just a phenomenal group of people running that Ponzi scheme.