The plaintiff brought a summary judgment motion to enforce a second mortgage arising from a Sharia-compliant financing structure arranged through an intermediary.
The central issue was whether the borrower's monthly payments were profit-only payments with the principal due at maturity, or principal repayments on an interest-free loan.
Applying the summary judgment framework, the court found the documentary record permitted a fair and just determination and that there was no genuine issue requiring a trial.
Judgment was granted for the outstanding principal, prejudgment interest under the Courts of Justice Act, enforcement fees, possession of the property, and costs to be addressed separately.