by BETTER FARMING STAFF
© Copyright AgMedia Inc
Earlier this year, Galbraith placed one of his companies, Pigeon King International Inc., into bankruptcy. The company’s bankruptcy trustee estimates liabilities could reach $40 million over assets. Former business associates say Galbraith’s combined liabilities of multi-year breeding contracts taken on by Galbraith personally as well as his other companies could amount to hundreds of millions.
Miller would not say how much Galbraith will receive for the house. He said the closing date is "in this calendar year."
When it was first put on the market, the asking price was $389,000. The price has been reduced several times since then. The house was relisted in the third week of September.
In June, Miller said Galbraith had owned the two storey, detached, single family dwelling for just over a year. It is located in eastern Waterloo in a 10-year-old neighbourhood called East Bridge on the Grand. "You can almost see the Grand (river) from there," said Miller.
The real estate listing on the Internet described the four bedroom, house as "amazing bright and spacious neotradional(sic) design."
Miller said he has not been contacted by the bankruptcy trustee or government officials and the sale is strictly between Galbraith and the new owner.
When notifying contract barn operators and suppliers of his company’s collapse, Galbraith stated he must sell his Waterloo home to pay Goods and Services Taxes imposed by the federal government.
He has since moved to his new luxury home in a remote area near Cochrane in northern Ontario. BF
© Copyright AgMedia Inc
PKI summary
Comments
why do you keep calling it a luxury house there are bigger houses in the town, you should have drove around when you were up there, just because the other houses on the road some of them not all of them are run down and piles of junk, does not mean arlans is a luxury home just because it is new.
get over it.
Whoever wrote the preceding comment obviously didn't lose thousands of dollars from the failed pigeon scheme the way myself and my family did. Better Farming has every right to call it a luxury home if that is the way they perceive it just as I have every right to call Arlan Galbraith whatever I choose! I hope Galbraith enjoys his LUXURY home for a little while yet. I'd rather live in squalor and be happy than live in a castle and have to look over my shoulder constantly.
His home up there is a luxury home. Just drive around the north and you will see that home stands out from the homes out in Cochrane area. I went up myself to take a look.
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