379489 Ontario Street Holdings Ltd. v. Espersen

379489 Ontario Street Holdings Ltd. v. Espersen

Petitioner proved the second mortgage was in default, the appraisal showed no equity, and there was insufficient evidence of collusion or unclean hands by the petitioner; therefore the court granted an order nisi of foreclosure, authorized the petitioner to have conduct of sale subject to court approval, and imposed...

Source-derived case information.

Citation
2001 BCSC 353
Parties
Petitioner: 379489 ONTARIO STREET HOLDINGS LTD.; Respondent: PREBEN ESPERSEN; Respondent: CANADA TRUSTCO MORTGAGE COMPANY; Respondent: DESIREE ANNE TANSEY
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
7 March 2001
Procedural Posture
Foreclosure / Application for Order Nisi of Foreclosure With 1 Day Redemption Period and Order for Conduct of Sale
Outcome
Order nisi of foreclosure granted; petitioner given conduct of sale; stay denied; costs awarded to petitioner at scale 2.
Legal Topics
Foreclosure, Order Nisi, Conduct of Sale, Redemption Period, Possession, Priority of Mortgages, Stay Pending Related Proceedings, Clean Hands Doctrine
Source Language
english
Property Law Equity Civil Procedure Family Law Foreclosure Order Nisi Conduct of Sale Redemption Period +4 more

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Summary, issues, holding and outcome

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Parties

379489 ONTARIO STREET HOLDINGS LTD.

Petitioner

PREBEN ESPERSEN

Respondent

CANADA TRUSTCO MORTGAGE COMPANY

Respondent

DESIREE ANNE TANSEY

Respondent

Procedural Posture

Foreclosure / Application for Order Nisi of Foreclosure With 1 Day Redemption Period and Order for Conduct of Sale

Legal Issues

  1. 1 Whether petitioner entitled to order nisi of foreclosure and conduct of sale
  2. 2 Whether there is any equity in the property and petitioner's security is jeopardized
  3. 3 Whether proceedings should be stayed pending resolution of family law action

Ratio Decidendi

Petitioner proved the second mortgage was in default, the appraisal showed no equity, and there was insufficient evidence of collusion or unclean hands by the petitioner; therefore the court granted an order nisi of foreclosure, authorized the petitioner to have conduct of sale subject to court approval, and imposed specific sale and access conditions.

Court Disposition

Order nisi of foreclosure granted; petitioner given conduct of sale; stay denied; costs awarded to petitioner at scale 2.

Orders

  • Order nisi of foreclosure granted on terms sought by petitioner
  • Property to be listed for sale and petitioner to have conduct of sale subject to court approval