Elsir Tawfik

This is a costs endorsement following an appeal.

The appellant, Yong Yeow Tan, was ordered to pay costs to the respondents, C & K Mortgage Services Inc. and the Receiver for Camilla Court Homes Inc. and Elite Homes Inc. C & K Mortgage Services Inc. was awarded $20,000, and the Receiver was awarded $7,500, inclusive of taxes and disbursements.

The appellant, Canada Investment Corporation (CIC), appealed an order directing that surplus proceeds held for CIC from a receivership sale be paid to the respondent creditors.

The respondents had successfully challenged the validity of CIC's pre-assignment expenses in a related action.

The Court of Appeal dismissed the appeal, finding that the claims process did not require a statement of claim, the onus correctly shifted to CIC to dispute the Receiver's recommendation, and issue estoppel precluded CIC from re-litigating the quantification of pre-assignment expenses already decided in the related action.

The appellant entered into an agreement of purchase and sale for a residential unit in a condominium project and paid a $500,000 deposit, mostly directly to the developer.

The developer was subsequently placed into receivership by the first mortgagee.

The receiver disclaimed the appellant's agreement of purchase and sale.

The appellant sought an order requiring the receiver to complete the sale, arguing he had an equitable interest in the property.

The Court of Appeal upheld the motion judge's dismissal, finding that the agreement explicitly subordinated the purchaser's interest to any mortgages and that the appellant's equitable claims could not defeat the mortgagee's prior secured legal interest.