The appellants, limited partners in a condominium complex, appealed a trial judgment dismissing their claims for negligent misrepresentation and breach of fiduciary duty against the respondent lender, and rejecting their defences to the respondent's shortfall action following power of sale proceedings.
The appellants argued that the respondent failed to inform them of property tax arrears when renewing the mortgage.
The Court of Appeal dismissed the appeal, finding that the respondent's relationship was solely with the general partner, and it owed no duty of care or fiduciary duty to communicate directly with the limited partners.