Kanbar sues Kaufman

[carltonplace]

Or so the TW reports:
Tulsa World Article

[USRufnex]

Wow.  Just wow.

Gives a little more insight as to why Kanbar seems to be stuck in a "wait-and-see" mode with those properties...

[Conan71]

I love the comment feature on TW online:

"welp, there goes downtown. Maybe the IRS will repossess all the properties and demolish them to sell the scrap materials."

Brilliant analysis.  That guy needs to send his computer back to Blue Hippo.

[USRufnex]

heh-heh... too bad the World can't put that on pg. 2 and bring back its Call the Editor section...

I once called in as a joke back when the state was debating the legalization of tattoo parlors (2001?)... think I said some crackpot stuff about tattoos and the book of Leviticus........ they printed it.... bwah-hah-hah-hah-hah!...... suckers. [8D]

[aoxamaxoa]

Seems like the axman here alluded to this over a year ago and was dismissed.

Apologies are in order but not forthcoming.

[USRufnex]

Nope, they won't be forthcoming... cuz I remember what you posted on the subject previously but will defer all comments to someone else...

Sick 'em, Bruno...

[aoxamaxoa]

more crack pot stuff....

[PreserveSouthTulsa.com]

I hope Kanbar prevails.  I am always behind a guy that his tenants cookies. []

[Steve L]

You may be interested in the story published at www.newsok.com last night and in this morning's Oklahoman: "Tulsa Rift: $20 million lawsuit divides investors"
http://newsok.com/article/3105112

[Renaissance]

quote:Originally posted by aoxamaxoa

Seems like the axman here alluded to this over a year ago and was dismissed.

Apologies are in order but not forthcoming.

Apologies.  I scoffed at you, although I'm not sure I did so publicly.

Regardless, the partnership's grand plan for downtown is most likely over.  This became apparent when the OU/Philbrook partnership chose Brady over "Mayo Place."  If Kanbar does liquidate his Tulsa holdings, though, there is a potential silver lining: a sudden glut of low priced, historic real estate that could attract several creative investors.

[aoxamaxoa]

Love gone bad....

Perhaps a better opportunity exists just around the corner. Some of their portfolio is impressive, especially with the street improvements.

[Conan71]

The additional stories aren't really smoking gun material.  Just another case of someone being trusted with a blank check book.  

I guess we'll know soon enough what that means for downtown.

[Renaissance]

Well it's not going to get any worse for downtown.  They already tore down the two structures that would be worth demolishing.

It's quite possible that Kanbar will stick with his investment, and just hire competent people.  Sounds like liquidity may be an issue, especially with the current real estate market, but I bet he finds funds if he goes looking.

There's also another K out there with some spare cash on hand . . .

[AMP]

http://www.tulsaworld.com/business/article.aspx?articleID=070810_5_E1_hKanb58616

Three firms planning 321 Quality Jobs

Kanbar Properties, Tulsa Winch and Thermal Engineering International envision larger work forces.

[brunoflipper]

quote:Originally posted by aoxamaxoa

more crack pot stuff....

hey settle down, i admitted last july that i'd heard that they were on the outs and that whole development was at risk of going tits up and i admitted you may have been correct in claiming there were problems (threw you a bone)... but you had said they were all for sale, which they weren't and still aren't, which is diff'rent...

july post