B.C. Supreme Court rules Terrace can keep $6.18-million deposit from industrial park developer – CBC

Oct 31, 2025

City of Terrace allowed to keep construction deposit after developer Taisheng fails to meet deadlines

The B.C. Supreme Court has ordered a company to return a $6.18-million construction deposit to the City of Terrace after it failed to meet project deadlines.

B.C. Supreme Court Justice Mark Underhill has dismissed a lawsuit filed by Taisheng International Investments Services Inc., which sued the City of Terrace for the deposit related to the construction of a new industrial park south of the city airport.

Taisheng argued it was contractually allowed to keep the construction deposit, despite not developing a groundwater system for the park, which is a joint venture between Terrace and the Kitselas First Nation and has been in the works since 2014.

Read More: https://www.cbc.ca/news/canada/british-columbia/terrace-industrial-park-lawsuit-taisheng-9.6961052