426008 B.C. Ltd. v. 0742848 B.C. Ltd.

426008 B.C. Ltd. v. 0742848 B.C. Ltd.

The petitioners failed to prove the property was marketed in a businesslike manner and failed to meet the burden to show the $5.3 million sale was provident: the realtor's documentation contained significant gaps (no explanation for near 50% price reduction, lack of evidence of marketing after the contract was...

Source-derived case information.

Citation
2018 BCSC 1475
Parties
Petitioner: 426008 B.C. Ltd.; Petitioner: 0714185 B.C. Ltd.; Respondent: 0742848 B.C. Ltd.; Respondent: Donald Walter McCargar; Respondent: Neil Cameron Bruntlett; Respondent: New Avenue Capital Inc.; Respondent: David M. Miles Law Corporation; Respondent: Eva Linttel; Respondent: David Wohlgemuth; Respondent: Cheryl Wohlgemuth; Respondent: Brian Koester; Respondent: Jessie Myshack; Respondent: 1016912 Alberta Ltd.; Respondent: Cathy Johnston; Respondent: Cascade Environmental Resource Group Ltd.; Respondent: Dianna Ziccarelli; Respondent: T. Fritz Professional Corporation; Respondent: Darlene Marie St. Jean; Respondent: Creus Engineering Ltd.; Respondent: Field Drilling Contractors Ltd.; Respondent: Frontier Pumps and Installations Ltd.; Respondent: Owen Bird Law Corporation
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
30 August 2018
Procedural Posture
Foreclosure Proceeding / Application for Court Approval of Sale Following Order Nisi and Listing
Outcome
Application dismissed; sale not approved
Legal Topics
Foreclosure, Approval of Sale, Marketing Obligations, Appraisal Evidence, Burden of Proof, Redemption Period
Source Language
english
Property Law Mortgage Law Real Estate Law Civil Procedure Foreclosure Approval of Sale Marketing Obligations Appraisal Evidence +2 more

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Parties

426008 B.C. Ltd.

Petitioner

0714185 B.C. Ltd.

Petitioner

0742848 B.C. Ltd.

Respondent

Donald Walter McCargar

Respondent

Neil Cameron Bruntlett

Respondent

New Avenue Capital Inc.

Respondent

David M. Miles Law Corporation

Respondent

Eva Linttel

Respondent

David Wohlgemuth

Respondent

Cheryl Wohlgemuth

Respondent

Brian Koester

Respondent

Jessie Myshack

Respondent

1016912 Alberta Ltd.

Respondent

Cathy Johnston

Respondent

Cascade Environmental Resource Group Ltd.

Respondent

Dianna Ziccarelli

Respondent

T. Fritz Professional Corporation

Respondent

Darlene Marie St. Jean

Respondent

Creus Engineering Ltd.

Respondent

Field Drilling Contractors Ltd.

Respondent

Frontier Pumps and Installations Ltd.

Respondent

Owen Bird Law Corporation

Respondent

Procedural Posture

Foreclosure Proceeding / Application for Court Approval of Sale Following Order Nisi and Listing

Legal Issues

  1. 1 Whether the property was marketed in a businesslike manner
  2. 2 Whether the proposed sale at $5.3 million is provident
  3. 3 Whether the applicants met the burden of proof for court approval of the sale

Ratio Decidendi

The petitioners failed to prove the property was marketed in a businesslike manner and failed to meet the burden to show the $5.3 million sale was provident: the realtor's documentation contained significant gaps (no explanation for near 50% price reduction, lack of evidence of marketing after the contract was signed, reliance on outdated or inaccurate appraisals), so the court could not approve the sale and dismissed the application.

Court Disposition

Application dismissed; sale not approved

Orders

  • Application dismissed
  • Sale not approved