The defendants moved for summary judgment to dismiss a professional negligence action arising from a gas station purchase.
The plaintiffs, former shareholders of a bankrupt corporation, alleged their lawyer failed to update a TSSA certificate, leading to deficiencies.
The court found the plaintiffs' claims were personal, not corporate, and were barred by the Limitations Act, 2002, as they were discovered in May 2008, but the action was commenced in December 2010.
The court also ruled that a nunc pro tunc order under s. 38 of the Bankruptcy and Insolvency Act was invalid as it was sought after the limitation period expired, and that the rule in Foss v. Harbottle barred the plaintiffs' claims for loss of investments and income.
The defendants' motion for summary judgment was granted, and the plaintiffs' cross-motion was dismissed.