Marshallzehr Group Inc. v. Callidus Capital Corporation

Marshallzehr Group Inc. v. Callidus Capital Corporation

The Court upheld the application judge's finding that the forbearance agreement, taken with the parties' conduct, vested effective control of the property and business with the mortgagee; those factual findings were not in error, so the appeal was dismissed.

Source-derived case information.

Citation
2017 ONCA 371
Parties
Applicant (respondent): Marshallzehr Group Inc.; Respondent (appellant): Callidus Capital Corporation
Court
Court of Appeal for Ontario
Jurisdiction
Canada
Judgment Date
5 May 2017
Procedural Posture
Collection / Civil Appeal / Court of Appeal of Ontario — Appeal From Superior Court Judgment (heard April 27, 2017; Released May 5, 2017)
Outcome
Appeal dismissed
Legal Topics
Forbearance Agreement, Mortgagee Control of Property, Interpretation of Contracts, Costs
Source Language
english
Civil Property Law Mortgage Law Contract Law Commercial Law Forbearance Agreement Mortgagee Control of Property Interpretation of Contracts +1 more

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Parties

Marshallzehr Group Inc.

Applicant (respondent)

Callidus Capital Corporation

Respondent (appellant)

Procedural Posture

Collection / Civil Appeal / Court of Appeal of Ontario — Appeal From Superior Court Judgment (heard April 27, 2017; Released May 5, 2017)

Legal Issues

  1. 1 Whether the forbearance agreement granted the mortgagee effective control over the property and business operations
  2. 2 Whether the application judge misinterpreted the forbearance agreement
  3. 3 Whether the application judge made unreasonable factual inferences from the evidence

Ratio Decidendi

The Court upheld the application judge's finding that the forbearance agreement, taken with the parties' conduct, vested effective control of the property and business with the mortgagee; those factual findings were not in error, so the appeal was dismissed.

Court Disposition

Appeal dismissed

Orders

  • Appeal dismissed
  • Costs awarded to respondent in the amount of $15,000 inclusive of taxes and disbursements