The defendants brought a motion for summary judgment to dismiss the plaintiff's claim for an equitable mortgage.
The plaintiff brought a cross-motion to determine the proper amount of the remaining proceeds from a power of sale.
The court granted the defendants' motion, finding no genuine issue requiring a trial as the parties always intended the plaintiff to have a second-ranking charge behind construction financing.
On the cross-motion, the court disallowed the defendants' three-month interest charge under section 8 of the Interest Act, reduced the claimed legal fees, and ordered the defendants to pay the plaintiff the balance of the residual proceeds of $99,400.83.
