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The court held that the CCAA stay applied to a customs bond issued for the Teal-Jones group and barred Intact from terminating the bond because of the insolvency proceedings.
The court dismissed a summary trial application for contribution between co-sureties, finding material factual disputes and credibility issues required a full trial.
Summary trial on a promissory note and consulting contract. The court rejected parol evidence, undue influence, and commercial unreasonableness arguments, and gave judgment for the plaintiff.
Summary judgment was dismissed because there are arguable, material issues whether the sale of the secured buses and GE's failure to notify the guarantor materially altered the guarantor's risk and whether the guarantor validly waived notice; those issues require trial and defeat the applicant's entitlement to summary judgment.
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Summary judgment in a loan and guarantee dispute: the corporate debtor’s $5,000 payment confirmed the debt and extended limitation periods, but the guarantor remained time-barred.
The court held that #100 did not consent to a one-year extension of the loan, was discharged as surety, and was entitled to return of its duplicate title.
The court held that the bank could enforce the guarantee without giving the guarantor prior notice of default, rejecting implied-term, estoppel, laches, and Bank Act arguments.
The court held that an unlimited personal guarantee and verification clause bound Dayna Roy Bell, who remained liable for Labyrinth’s debt despite later billing practices.
The court held that a personal guarantee was independent of the credit application and enforced it for the full debt, rejecting a $10,000 limit.
Court held that the addition of Schickedanz and Timed as assignees/assumers of the mortgage did not constitute a material alteration discharging Szasz and Yeates, who remained liable to Standard for $250,000 each; however, because Schickedanz and Timed assumed the mortgage and expressly elected to leave the personal guarantees in place, Szasz and Yeates are entitled to indemnity from Schickedanz and Timed to the extent of any recovery by Standard against them; costs were awarded to Szasz and Yeates against Schickedanz and Timed.
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