The Plaintiff, TPine Financial Services Inc., brought a motion for the continuation of an interim Mareva Order and leave to register a certificate of pending litigation (CPL) on the Caledon Property.
The Plaintiff alleged a fraudulent invoicing scheme by the Mareva Defendants, leading to the advancement of $7.5 million, part of which was used as a $3.65 million deposit for the Caledon Property, held by the Hanjra Defendants.
The Hanjra Defendants had failed to comply with previous orders to pay these deposit monies into court.
The court granted the Plaintiff's motion, ordering the Hanjra Defendants to pay the $3.65 million into court and granting leave to register the CPL, finding a triable issue regarding the Plaintiff's claim to the specific fund and an interest in the property.
Subsequently, the parties reached a settlement agreement where the Hanjra Defendants would pay the sum into court within 30 days, leading to the discharge of the CPLs and abandonment of their appeal.
Costs were fixed at $15,000 for the motion, payable by the Hanjra Defendants.