The appellant, Bank of Montreal, sought to appeal an order lifting a stay of proceedings in a receivership, which allowed the respondent to terminate a project agreement.
The appellant argued it had an automatic right of appeal under s. 193(c) of the Bankruptcy and Insolvency Act, or alternatively, sought leave to appeal under s. 193(e).
The Court of Appeal held that the order lifting the stay was procedural, did not directly bring into play the value of the debtor's property, and did not directly result in a loss, meaning there was no automatic right of appeal.
The court also denied leave to appeal, finding the proposed appeal was not prima facie meritorious, did not raise issues of general importance, and would unduly hinder the insolvency proceedings.
