Chris Argiropoulos

The appellants appealed a judgment that ordered judgment in accordance with an offer to settle, permitted equitable set-off, and extinguished the remainder of the debt owing to the bank.

The Court of Appeal upheld the judgment regarding the offer to settle and equitable set-off, but found no evidentiary foundation or reasons for extinguishing the remainder of the debt.

The appeal was allowed in part to vary the judgment, directing that all monies paid pursuant to the offer to settle be used to set-off the indebtedness, without extinguishing the remaining debt.