Brendan Monahan

The Receiver brought an unopposed motion for an order approving a Claims Adjudication Process, appointing a Claims Officer, and approving its Twentieth Report.

The court granted the motion but modified the proposed order to remove limitations on appeal rights and standard of review, noting that such issues remain to be determined by the court hearing any appeal, not by the Claims Officer.

The Mizrahi Defendants brought a motion to dismiss or stay the plaintiff's action based on a standstill provision in a Priority, Subordination and Standstill Agreement.

The plaintiff, a subordinated lender for a construction project, sued for $200 million in damages and other relief.

The court found that the plaintiff's claims fell squarely within the standstill provision, which prohibited enforcement actions until senior lenders were repaid.

The court rejected the plaintiff's argument that the enforceability of the agreement was in play, as it was not pleaded.

The action was stayed for 30 days to allow the plaintiff to draft a new statement of claim for claims not covered by the standstill provision, after which the action would be dismissed.

Following a successful motion for summary judgment, the plaintiff sought substantial indemnity costs of $32,657.80 on the basis that the defendant made an unproven fraud allegation.

The defendant argued that it had offered to withdraw the allegation and that the legal issue was novel, militating against a costs award.

The court found that the fraud allegation was not formally withdrawn as the defendant's offer was conditional, but noted the plaintiff's claimed amount was effectively based on a partial indemnity rate.

The court awarded the plaintiff costs fixed at $29,000 all-inclusive.

Following a motion where the plaintiff was unsuccessful in obtaining a Mareva injunction but successful in obtaining an order for interim possession of a jewellery set, both parties sought costs.

The court found that success was substantially divided and the costs sought by the plaintiff were excessive.

Applying the factors in Rule 57.01, the court ordered that the parties bear their own costs.