The defendant developer and related parties brought a motion for summary judgment dismissing a condominium corporation’s claims arising from a 2005 transaction in which the corporation purchased surface rights to parking units and granted mortgages to the developer.
The corporation alleged negligence, breach of fiduciary duty, conflict of interest, and breach of statutory duty, claiming the purchase price was inflated and the mortgages invalid.
The court held that the claims were statute‑barred under the Limitations Act, 2002 because the relevant facts were known or reasonably discoverable at the time of the 2005 transaction.
The court further found no admissible evidence that the purchase price was excessive or that the defendants caused compensable harm.
Summary judgment was granted dismissing the action, and related motions for an injunction and to amend the claim were also dismissed.