Loblaw Properties sought to declare the Town of Smiths Falls' right to repurchase a land parcel void or unconscionable, arguing it failed to develop the property within the prescribed four-year period.
The Town cross-applied to affirm and enforce its right and correct registration errors.
The court found the Town's right to be a valid equitable interest binding Loblaw, which had full notice of the condition.
The court dismissed Loblaw's arguments regarding uncertainty, penal nature, and unconscionability, noting Loblaw's sophistication and failure to provide proper valuation evidence.
Loblaw's application was dismissed, and the Town's cross-application was granted, including declarations and rectification of the title register.
