COURT OF APPEAL FOR ONTARIO
RE:
DEWSHAF INVESTMENTS INC. (Plaintiff (Respondent)) – and – SILJUB HOSPITALITY INC. (Defendant (Appellant))
BEFORE:
MOLDAVER, GOUDGE and LANG JJ.A.
COUNSEL:
Alnaz I. Jiwa
for the appellant
Simon Schneiderman
for the respondent
HEARD:
April 27, 2006
On appeal from the judgment of Justice Eva Frank of the Superior Court of Justice dated August 11, 2005.
A P P E A L B O O K E N D O R S E M E N T
1We see no error in the motion judge’s conclusion that judgment should issue on the promissory note. This and her refusal to grant a stay of that judgment were supported by the record before her.
2The appellant however has tendered fresh evidence on the appeal. Based on that evidence, while we are satisfied that the summary judgment should not be disturbed, we have been persuaded that the judgment should be stayed subject to production of proof by the respondent, on motion by it in this action to a judge of the Superior Court of Justice, in form and terms satisfactory to that judge, that it has complied with its obligations under para. 10 of the Shareholder’s Agreement (dated October 10, 2001) and para. 1 of the Undertaking and Indemnification Agreement between the parties (dated November 2, 2001) to obtain the releases of guarantees referred to in those paragraphs in favour of the appellant.
3Success is divided. The parties shall bear their own costs of the appeal.