The plaintiff, City Core Consortia Limited, moved for leave to register a certificate of pending litigation (CPL) against a property owned by the defendant, 2549386 Ontario Inc. City Core claimed specific performance and damages for breach of contract and negligent misrepresentation, asserting a reasonable claim to an interest in the property.
The defendant argued the agreement was properly terminated due to the plaintiff's failure to deliver a required deposit and that equities did not support a CPL.
The court dismissed the motion, finding no triable issue regarding City Core's claim to an interest in the property, particularly given the "time is of the essence" clause and the plaintiff's failure to pay the deposit.
The court also found that the equities, including a non-registration clause and the plaintiff's delay, favored the defendant.