Monica Kozycz

The plaintiffs, Ebury Partners Canada Ltd. and Ebury Partners Finance Ltd., moved for summary judgment against the defendants for debts allegedly owed under a Transaction Finance Agreement and a Foreign Exchange Services Agreement.

The plaintiffs sought $142,251.07 plus interest under the FX Agreement and $84,496.40 plus interest under the TF Agreement, with the latter also sought against the defendant William Friedman as a personal guarantor.

The defendants opposed the motion, alleging that Ebury had made misrepresentations regarding the provision of advice and risk management tools.

The court found that summary judgment was appropriate and granted judgment for the plaintiffs in full.

The court considered the appropriate penalty for PSP Services Inc.'s contempt of court for failing to cooperate with an audit as required by contract and court orders.

The court found repeated, prolonged, and unremedied contempt, and ordered the appointment of Ernst & Young as investigative receiver, required PSP to pay increased audit costs into court, and awarded substantial indemnity costs to Peoples Trust Company.

East West Investment Management Corporation sought an order to pay funds into court or a declaration that its continued management of funds for Thomas Higgins and the TRH Foundation did not contravene the Criminal Code, due to a risk that the funds might constitute proceeds of crime from a German tax fraud scheme involving Maple Bank.

The court, exercising its inherent and supervisory jurisdiction over trusts, granted the order allowing East West to pay CDN$4,398,168 into court, with the consent of the respondents, to mitigate East West's risk of liability under money laundering laws.

The plaintiffs sought the appointment of a receiver over the DMCC Group of companies to oversee the winding-up and termination of a Trust and the distribution of its assets.

The motion was brought after the Trust Administrator issued a wind-up notice.

The court applied the "just and convenient" test under s. 101 of the Courts of Justice Act, finding that the individual defendants' conflicts of interest and lack of meaningful progress in the wind-up process warranted an independent receiver.

The receivership was granted but limited to specific key entities (the Administrator, General Partner, and DMCC Americas (Canada)), with the possibility of expansion.

The court declined to appoint a receiver under the oppression remedy at this stage.