A wealthy businesswoman who owns $200 million in real estate institutes lawsuits, specifically related to an offer to buy one of Quebec’s most expensive homes.
Canadian businesswoman Louise Blouin, who was among the country’s wealthiest women in the mid-2000s, was targeted by at least six court cases in Quebec.
For the past five years, she has been sued by a bank, a real estate agency, a law firm, a painting company, a Montreal architect, and buyers and sellers of luxury residences.
A spectacular home in the Hamptons, near New York, linked to Louise Blouin is also at the center of a dispute with creditors (see other text below).
The lawsuits suggest a princely lifestyle for the woman, who made her fortune notably with her shares in Trader Classified Media (the owner ofcar weekly), which she liquidated in 2005.
She has devoted much of her time to art and media for more than 15 years, including at BlouinArtinfo Corp. She also met some well known jet set personalities.
The real estate transaction of the year
In 2015, she had her eye on a luxurious Montreal home, according to court records.
Along with a real estate agent, she drove through Westmount in an open-top convertible Mini Cooper, trying to score what was then the biggest housing transaction of the year in Quebec.
She wanted to snag a 10-bedroom, 10-bathroom Victorian mansion with stunning metropolitan views.
The house wasn’t for sale at the time, but Mme Blouin convinced the owner to sell it to him for $15.5 million after offers and counteroffers.
Mme However, Blouin never went to the notary to finalize the transaction. The seller, who had since moved, sued her.
In defense Mr.me Blouin claimed that she was no longer obligated to buy because her agent shared information with her protocol for the sale of another property in Mont-Tremblant. A reason deemed far-fetched by Supreme Court Justice Sylvain Lussier (see other text).
“It’s his arguments, his wishes, his whims, his sense of greatness that come before any consideration of his obligations,” criticized the judge.
He ordered the businesswoman to pay nearly $2 million in part to fill the gap between the price offered and what the seller eventually had to accept from another buyer.
In addition to compensating the Westmount seller, in February Louise Blouin was forced to sell a $5.1 million home in Mont-Tremblant to a couple from whom she had accepted an offer to buy (see other text below).
HSBC Bank also sued her and won a judgment in her favor over unpaid debts, including more than $50,000 in credit card balances. Specifically, testimony shows spending more than $18,000 in five days at stores in Florence and Paris and a hotel in Switzerland.
WHO IS LOUISE BLOUIN?
- A Montreal native
- His estate was valued at $200 million.
- that New York Post In 2016 she called her the “Great Gatsby of the art world” because of her parties organized in La Dune, one of the most prestigious residences on Long Island, near New York.
- She was already in the entourage of Prince Andrew and Bill Clinton, the reported globe and mail in the year 2005.
- She is the sister of Hélène Desmarais, wife of Paul Desmarais Jr. (Chairman of the Board of Directors of Power Corporation)
► Law firm Gowling LWG also filed a lawsuit last year alleging $109,000 in unpaid fees. She denied the claim and said she was not satisfied with the legal services provided.
Litigation over a $140 million mansion
Photo from Sotheby’s website
La Dune, a litigation Hampton estate linked to Louise Blouin, is for sale at Sotheby’s.
One of the most prestigious houses on the American East Coast, owned by a company owned by Louise Blouin, has been in a showdown with its creditors over a $43 million debt in recent days.
On April 30, Louise Blouin signed the bankruptcy papers for the Brickchurch company, of which she is the administrator.
Brickchurch owns one of two houses in a luxury estate called The Dune in an area that attracts wealthy New Yorkers.
A few days earlier, a lawyer had asked for a reprieve to avoid the foreclosure of the house, to conduct checks and try to obtain refinancing.
The company, led by Louise Blouin, was the subject of a financial recovery process initiated by creditors, including a Cayman Islands fund, according to documents viewed by our Bureau of Investigation.
According to Outeast, the La Dune estate was listed for sale in 2020 for $140 million. It is currently available from Sotheby’s at an undisclosed price.
Photo from Sotheby’s website
A La Dune bathroom offers views of the beach and ocean.
“Considered by many to have the most prestigious ocean frontage in all of the Hamptons, this iconic Stanford White attached property offers two exceptional residences on over 10 acres with over 400 feet of continuous beachfront,” describe Harald and Bruce Grant via the Sotheby’s Real real estate agent website.
The La Dune complex home, owned by Brickchurch, is valued at $63 million in court documents. The other house is owned by another company related to Louise Blouin, Aberdeen Enterprises, which is also in default.
– In collaboration with Philippe Langlois
Away with a bedroom door?
Photo QMI agency
A Cape Cod-type residence in Tremblant had to be sold by Blouin to two buyers.
A luxury Mont-Tremblant home sold by Louise Blouin was left in disrepair when new owners arrived, a lawsuit claims.
“The defendant went with the door to the master bedroom, proving his bad faith, as well as several china, lamps and other objects of great value, demonstrating the seriousness of the gesture,” claimed a pair of buyers in an appeal last February at the Saint-Jérôme courthouse.
They are seeking $320,000 specifically for missing or damaged property.
“The missing items that belonged to the plaintiffs and were also expensive (including doors, cupboards and fixtures!) were scattered and taken away by the defendants’ family members and the rest were sent to Europe,” the suit reads.
Damage would have been determined even after possession.
“There was major water damage in the kitchen, which was not there at the time the purchase was confirmed,” claim the buyers, citing the damage to the counters and floors.
The claim is made by Mr.me Blouin who call it excessive and unfounded.
Treated like crooks
However, this is not the first dispute between Blouin and the buyers. Earlier this year, the couple won their case to force them to sell their Tremblant home for $5.1 million. She had accepted an offer to buy, but then changed her mind.
“It treats plaintiffs like crooks if they’re just exercising their rights,” said Supreme Court Justice Claude Auclair. The judge also said that Mr.me Blouin intimidated involved brokers by threatening to revoke their licenses because she is a powerful person.
Louise Blouin feared for her tax status
Photo Pierre Paul Poulin
A mansion that Louise Blouin wanted to buy was dubbed “Downton Abbey of Westmount” by the media.
Businesswoman Louise Blouin, who has lived in Switzerland for several years, is said to have abandoned a transaction to purchase one of Westmount’s most beautiful houses because she feared for her tax status.
In 2016, she tried to buy the luxurious residence for $15.5 million before changing her mind. The seller sued them and was awarded nearly $2 million in damages.
During the court proceedings, the veil was lifted on a confidential note that Blouin sent to the notary in charge of the transaction on the evening of the date scheduled for the completion of the sale.
“Due to an indiscretion by my broker, we have decided not to proceed with the acquisition [de la maison de Westmount], because it would be too compromising for my tax status. This is strictly confidential,” she wrote to the notary.
Mme Blouin, although a Canadian citizen, is currently a resident of Switzerland, she said during the discovery last year.
chronicle of protocol
As can be seen from a judgment, the businesswoman would have resisted a column in Le Journal in 2016 that would have drawn attention to her.
The article reported on his purchase of another home in Mont-Tremblant for $5.8 million. She then suspected her broker of leaking information when that information is available on the public registers.
In her opinion, this column would have led to another article in the Toronto Star about his presence in the Panama Papers.
“These items, circulating around the world, lifted the veil on me in Canada and therefore this purchase would be compromising,” she explains to the notary.
Another “serious reason” for not completing the transaction is mentioned in the note but not disclosed.
A few months earlier his name had appeared in the torontostar, who reported his presence in the Panama Papers.
This media leak revealed the identities of hundreds of individuals and companies who used the services of a Panamanian law firm to invest in tax havens.