The defendant mortgagee brought a motion for summary judgment dismissing the plaintiff mortgagor’s action alleging an improvident power of sale of farm property, or alternatively for security for costs.
The plaintiff argued that the mortgagee failed to take reasonable precautions to obtain true market value and relied on outdated appraisals when selling the property, while a retrospective expert appraisal suggested a significantly higher value.
The court held that evidentiary gaps, including untested appraisal evidence and unanswered allegations regarding the conduct of the mortgagee’s solicitor, created genuine issues requiring a trial.
The court also refused security for costs, finding the moving party failed to establish any ground under Rule 56.01.
Both branches of the motion were dismissed.
