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The court held 625536 B.C. Ltd.’s mortgage security was statute-barred, but its debt claim remained enforceable. The court also rejected an equitable mortgage for forbearance fees.
The Supreme Court of British Columbia dismissed an application to cancel a CPL, finding no proof that the hardship was caused solely by the CPL. Security for costs was also denied.
The court refused to cancel a certificate of pending litigation over a Bowen Island property, but ordered disclosure of documents and an undertaking as to damages.
The Court of Appeal dismissed Salico’s appeals, holding the mortgage commitment incorporated a no-obligation-to-advance clause and did not novate the existing mortgage.
The court held that promissory estoppel did not apply, but ordered Fraser Valley’s mortgage to rank ahead of Household’s on the basis of unjust enrichment.
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