Pigeon King says goodbye to Waterloo roost

Sunday, October 19, 2008

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
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