Canada Case Law

Pacifica Mortgage Investment Corporation v. 2490 Marine Drive Ltd.

Court

Supreme Court of British Columbia

The court granted the appointment of a receiver (MNP Ltd.) because the Maple Trade factors and equitable considerations favored receivership: the Debtors abandoned the project, there is imminent prejudice from expiry of the development permit and high interest accrual, asset preservation and public safety concerns existed, no adequate or timely alternative step had been taken by the second mortgagee, and a receiver could protect stakeholders. The receiver's powers were limited (no unilateral payment to Pacifica without leave; borrowing capped at $500,000) to preserve judicial supervision.

Source excerpt

• Appointment of receiver
• Foreclosure
• Conduct of sale
• Reverse vesting order
• Priority of security
• Judicial supervision of receivership

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Van Maren Financial (2018) Ltd. v. Wolfenden Ventures Ltd.

Court

Supreme Court of British Columbia

The court granted the adjournment because triable issues exist regarding contractual interpretation of the as‑is clause and alleged post‑approval damage, there is material uncertainty about the extent of damage, the insurance claim and ownership/transfer of Wolfenden Ventures Ltd., and the fairness of making a final order of sale without cross‑examination and production of documents. Accordingly the interests of justice required postponing approval of the sale, ordering targeted pre‑hearing steps (cross‑examination and disclosure), and permitting further procedural relief to be sought on a fi…

Source excerpt

• Foreclosure
• Conduct of sale
• As‑is/where‑is clause
• Adjournment
• Cross‑examination on affidavit
• Discovery/production of documents

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Stewart v. Ryan Mortgage Income Fund Inc.

Court

British Columbia Court of Appeal

Leave to appeal was denied from a chambers order allowing forced entry into mortgaged rental properties for sale, and the stay application was moot.

• Forced entry
• Conduct of sale
• Leave to appeal
• Stay application
• Admissibility of affidavits/hearsay
• Post-foreclosure tenancies

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Ward v. Ward

Court

Supreme Court of British Columbia

Summary-trial family property decision ordering sale of the former family home and business assets, equal division of net proceeds, and security for costs.

• Division of family property
• Excluded property claim
• Sale of family home
• Valuation and division of business assets
• Protection order
• Conduct of sale

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First West Credit Union v. DB Land Acquisitions Inc.

Court

Supreme Court of British Columbia

Foreclosure petition granted after the court enforced a clear forbearance agreement providing for a one-day redemption period and immediate conduct of sale.

• Forbearance agreement
• Redemption period
• Conduct of sale
• Court discretion
• Costs
• Foreclosure

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SpringCreek Capital Corp. v. Full Spectrum Medical Inc.

Court

Supreme Court of British Columbia

The court approved SpringCreek’s $650,000 sale of ALR property after 19 months of marketing and dismissed Chase’s preservation application.

• Conduct of sale
• Provident sale
• Preservation order
• Mortgage priority dispute
• Market valuation
• Building code compliance

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Tutush v. Tutush

Court

Supreme Court of British Columbia

The court granted a petition for sale of co-owned property, upheld the co-ownership agreement and amendment, and ordered joint conduct of sale with costs to the petitioner.

• Partition of property
• Co-ownership agreement
• Contract interpretation
• Rectification
• Estoppel
• Unjust enrichment

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J. Simons Management and Development Ltd. v. 1365651 B.C. Ltd.

Court

Supreme Court of British Columbia

Appeal from approval of a foreclosure sale dismissed. The court upheld the Sidhu valuation, found redevelopment speculative, and held the property was marketed in a businesslike manner.

• Conduct of sale
• Foreclosure
• Valuation and highest and best use
• Marketing in a businesslike manner
• Standard of review on appeal
• Redeem period

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Shuswap Association for Eco Development and Fairtrade v. Olympia Trust Company (A50545)

Court

British Columbia Court of Appeal

The Court of Appeal dismissed Shuswap’s application to vary a chambers order refusing leave to appeal, finding no error of law or fact and no reviewable basis to intervene.

• Leave to appeal
• Order nisi
• Conduct of sale
• Extension of time
• Procedural fairness
• Charter rights

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Howell v. Stockhorst

Court

Supreme Court of British Columbia

The court ordered joint conduct of sale of a Surrey family property, denied sole conduct and ancillary sale directions, and left proceeds issues unresolved pending possible prior orders.

• Conduct of sale
• Joint conduct of sale
• Division of family property
• Ancillary sale directions
• Costs
• Joint-conduct-of-sale

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