The Toronto-Dominion Bank (TD) brought an application under the Personal Property Security Act for an order authorizing a private receiver to take possession and sell property of The Hockey Academy Inc. (the debtor).
The central dispute was whether rink equipment installed by the debtor became fixtures owned by the landlord, Champagne Centre Ltd. (CCL), or remained the debtor's property subject to TD's security interest.
The court interpreted the lease amendments, finding that the debtor was required to remove the rink equipment upon lease termination, which implied continued ownership by the debtor.
Consequently, TD's security interest had priority over CCL's claim.
The court granted TD possession of the equipment and ordered a reference to determine the value CCL owed TD for its wrongful use of the equipment.
