David Carter

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.

The defendant sought an urgent injunction to prevent the sale of a mortgaged property by the plaintiffs under a power of sale.

The defendant argued the property was unique, the notice of sale was deficient, and payments were not properly credited.

The court dismissed the motion, finding the property was not unique, the notice of sale was not void due to minor irregularities, and the balance of convenience favored the plaintiffs, who had a binding agreement of purchase and sale.