The lender, Alleghe Mortgage Fund Ltd., brought a motion for summary judgment against the borrower, Winona Park Towns Ltd., and its principal, Pedram Talebzadeh, seeking repayment of a $2 million loan secured by a second mortgage and guarantees, and leave to issue a writ of possession.
The borrower and guarantor opposed the motion and brought a counterclaim, alleging the lender acted in bad faith, that the notice of sale was invalid, and seeking to redeem the mortgage based on an earlier debt amount.
The court found no genuine issues requiring a trial, dismissing all arguments raised by the borrower and guarantor, and granted summary judgment in favour of the lender, including the dismissal of the counterclaim and leave to issue a writ of possession.
