The defendants moved to set aside default judgments in two related mortgage actions concerning their family home in Oakville.
The first action involved a second private mortgage held by an individual lender, while the second involved a first mortgage assigned to a corporate lender.
The defendants alleged fraud, unconscionability, and a coordinated loan-to-own scheme as meritorious defences.
Before the court needed to decide the motions, all parties reached a resolution through counsel cooperation, with one motion adjourned sine die and the other resolved by Minutes of Settlement, granting the defendants additional time to refinance and pay the indebtedness.
