Who is Alexander Steele?

Alexander Steele is an Ontario lawyer with 3 court cases on record from 2020 to 2023.

What courts has Alexander Steele appeared in?

Alexander Steele has appeared in Superior Court of Justice, Court of Appeal, with most appearances at the Superior Court of Justice.

How many cases has Alexander Steele handled?

Alexander Steele has 3 cases on record from 2020 to 2023.

What judges has Alexander Steele appeared before?

Alexander Steele has most frequently appeared before Justice Lorne Sossin, Justice Benjamin Zarnett, Justice David H. Doherty.

Alexander Steele

3 total

BCIMC Construction Fund Corporation v. 33 Yorkville Residences Inc., 2023 ONCA 1

The Court of Appeal affirmed that lien claimants' priority over building mortgages is limited to a single 10 percent holdback deficiency regardless of the number of mortgages.

The appellants, lien claimants in a condominium development bankruptcy, appealed a motion judge's decision regarding the quantum of their priority under section 78(2) of the Construction Act.

They argued for a 20% priority due to two building mortgages, while the receiver contended it was a single 10% holdback deficiency.

The Court of Appeal granted leave to appeal, finding the statutory interpretation issue important.

On the merits, the Court of Appeal upheld the motion judge's interpretation, affirming that the priority is limited to the single 10% holdback deficiency, regardless of the number of building mortgages.

The appeal was dismissed.

OCAJan 3, 2023

Respondent Counsel

BCIMC Construction Fund Corp. et al. v. 33 Yorkville Residences Inc et al., 2022 ONSC 2326

Lien claimants' priority for holdback deficiency under s. 78(2) applies once over all building mortgages combined.

Three lien claimants brought a motion in a receivership proceeding to determine the proper interpretation of s. 78(2) of the Construction Act regarding priority over building mortgages.

The claimants argued they were entitled to priority for the holdback deficiency against each building mortgage individually, effectively multiplying their priority amount.

The court dismissed the motion, holding that the lien claimants' priority is limited to the extent of the single deficiency in the owner's holdback over all building mortgages combined, as multiplying the priority would be contrary to the statutory scheme and unfairly prejudice subsequent encumbrancers.

SCJApr 29, 2022

Respondent Counsel

Lydian International Limited (Re), 2020 ONSC 4006

CCAA Plan of Arrangement sanctioned as fair and reasonable, including third-party releases and DIP charge increase.

The Applicants, part of the Lydian Group which owns a development-stage gold mine in Armenia, sought an order sanctioning their Plan of Arrangement under the CCAA.

The Plan, supported by the Monitor and the requisite majority of secured creditors, provides for the privatization of the Lydian Group and the release of existing indebtedness to Senior Lenders.

The court found the Plan to be fair and reasonable, noting that while equity claimants would receive no compensation, this reflected the economic reality of the insolvency.

The court also approved third-party releases, an increase to the DIP charge, an extension of the stay period, a sealing order for commercially sensitive information, and the Monitor's activities and fees.

SCJJul 10, 2020