Shelley Babin

The plaintiff moved to set aside the registrar’s automatic dismissal of an action alleging misappropriation of investment funds and to transfer the place of trial from Toronto to St. Catharines.

The dismissal was set aside on consent, as the motion had been brought before the dismissal order was issued and procedural steps had continued.

Applying Rule 13.1.02(2)(b) of the Rules of Civil Procedure, the court weighed convenience, trial scheduling, and access to justice considerations.

Despite several defendants and counsel being located in Toronto, the court found the plaintiff’s health issues and limited financial means were significant factors favouring transfer.

The action was therefore ordered transferred to St. Catharines in the Central South judicial district.

The appellant, a major unitholder in a real estate investment trust, sought declarations that the trust's trustees were removed from office by written consents and therefore lacked authority to close a private placement.

The application judge dismissed the application, finding that even if the consents were valid, the trustees continued in office until replaced and acted within the ordinary course of business by closing the previously agreed-upon private placement.

The Court of Appeal dismissed the appeal, declining to interpret the hypothetical effect of the written consents and agreeing that the trustees were contractually bound to close the transaction, which constituted acting within the ordinary course of business.

NorthWest Value Partners Inc. applied for a hearing and review of two decisions of the Toronto Stock Exchange (TSX) regarding InterRent Real Estate Investment Trust: a decision accepting notice of a private placement without requiring unitholder approval, and a decision allowing InterRent to postpone its annual meeting.

On preliminary motions, the Ontario Securities Commission granted intervenor status to CLV Group Inc., denied NorthWest's request for disclosure of the subscribers' names, and concluded it would defer to the TSX's decision on the private placement as NorthWest failed to establish grounds for intervention under the Canada Malting test.

The Commission also dismissed the request to review the meeting date decision because it was filed outside the 30-day statutory time limit.

NorthWest Value Partners Inc. applied for a hearing and review of two decisions of the Toronto Stock Exchange (TSX) regarding InterRent Real Estate Investment Trust.

The TSX had allowed a private placement to proceed without unitholder approval and permitted a delay in the annual meeting.

The Ontario Securities Commission granted intervenor status to CLV Group Inc. but denied it to Mike McGahan.

The Commission declined to order disclosure of the private placees' names to protect their privacy.

Applying the Canada Malting test, the Commission deferred to the TSX Listing Committee Decision, finding no grounds to intervene.

The application to review the TSX Meeting Date Decision was dismissed as it was filed out of time.

The plaintiff sought costs on a partial indemnity basis following the dismissal of the defendants' motion for leave to appeal an interlocutory injunction.

The plaintiff claimed $45,391.40 inclusive of GST and disbursements, while the defendants argued $25,000 was fair and reasonable.

The court noted that much of the work had already been prepared for the original injunction motion.

Applying Rule 57.01(1), the court fixed costs at $28,627.40, payable jointly and severally by the defendants.