The corporate appellant defaulted on a Canada Small Business Financing Loan and the individual appellant was found liable as guarantor on a summary judgment motion.
On appeal, the appellants argued the action was statute-barred, improperly served, procedurally unfair, and that the bank breached obligations by not disbursing the full loan amount.
The Court of Appeal dismissed the appeal, finding no errors by the motion judge in concluding the loan was in default, the guarantee was enforceable, and the bank owed no duty of care to disburse the full amount.
