2 total
Motion for Mareva injunction dismissed as plaintiffs failed to prove risk of asset dissipation.
The plaintiffs brought a motion for a Mareva injunction to restrain the defendants from dissipating assets pending the resolution of a breach of contract action related to a vendor take back mortgage.
The plaintiffs alleged the defendants defaulted on several obligations and were dissipating assets, pointing to a declining business and the refinancing of a principal residence.
The court dismissed the motion, finding no evidence of fraud or that the defendants were attempting to remove or dissipate assets to avoid judgment.
Constructive trust imposed to enforce oral land trust despite writing requirement.
In an application over beneficial ownership of residential land, the applicant alleged an oral trust arrangement under which the respondent held legal title for the applicant's benefit.
The court found on the evidence that both periods of title holding reflected the same trust-based understanding, and rejected the respondent's position that the later arrangement was a true landlord-tenant relationship.
Although a bare trust in land failed for lack of writing under the Statute of Frauds, the court held a constructive trust could be imposed to prevent inequitable reliance on statutory formalities.
Declarations were granted confirming beneficial ownership and entitlement to conveyance on demand, subject to payment of specified ownership-related obligations including the down payment and interest.
