The applicant sought damages of $80,000 alleging that the respondent, a non-profit corporation administering a self-employment benefit program, failed to sell two seized dump trucks at fair market value following the applicant's default on a loan.
The respondent sold the trucks for $12,000 after they sat in a bailiff's yard for approximately one year.
The court dismissed the application on two grounds: first, the applicant's claim was barred by the Limitations Act, as he had knowledge of the sale price no later than June 2, 2022, and commenced the application on November 6, 2024; second, on the substantive merits, the respondent acted in good faith and took reasonable steps to obtain the best value possible.
The trucks required significant capital investment to comply with new regulations and were not commercially viable.
The court awarded costs of $10,000 on a partial indemnity basis, in addition to a prior costs order of $500.
