HSBC Bank Canada appealed a summary judgment decision in its favour against Antonio Guido on a personal loan guarantee.
Guido, the principal of Royal Canadian Bedrock Inc., had defaulted on a loan and was bound by a personal guarantee.
Guido's principal defence was that HSBC was bound by a side agreement allegedly engineered by Bruno Campoli, who was retained as an exclusive agent for both Guido and RCB.
Guido claimed Campoli and Michael Thomas & Associates Inc. were also acting as agents for HSBC and made misrepresentations that HSBC would not enforce the guarantee.
Guido also alleged a conspiracy to extract unlawful fees.
The motion judge granted summary judgment to HSBC and dismissed Guido's counterclaim.
The Court of Appeal upheld the decision, finding no genuine issue requiring trial and no evidentiary support for Guido's allegations after five years of litigation.