DATE: 20061106

DOCKET: C43480

COURT OF APPEAL FOR ONTARIO

RE:

ROYAL BANK OF CANADA (Plaintiff/Defendant to Counterclaim/Respondent in Appeal) – and – BRODAK CONSTRUCTION SERVICES INC., BRODAK GROUP INC., BART BEAUMONT and SYLVIA BEAUMONT (Defendants/Plaintiffs by Counterclaim/Appellants in Appeal)

RE:

ROYAL BANK OF CANADA (Applicant/Respondent in Appeal) – and – BART BEAUMONT and SYLVIA BEAUMONT (Respondents/Appellants in Appeal)

BEFORE:

LASKIN, MacPHERSON AND LANG JJ.A.

COUNSEL:

Michael O’Connor

for the appellants

Catherine Francis and Sharona Ishmael

for the respondent

HEARD & ENDORSED:

November 3, 2006

On appeal from the judgment of Justice Peter Jarvis of the Superior Court of Justice, dated March 4, 2005.

A P P E A L B O O K E N D O R S E M E N T

[1] We dismiss the appeal on either of two bases. First, the trial judge found that the dealings between Mr. Beaumont and Ms. Mason on December 14, 1999 did not result in a final arrangement. We think that it was open to the trial judge to make this finding.

[2] Alternatively, by their terms, both the guarantee and the chattel mortgage were continuing obligations. In our view, the December 1999 financial agreement did not extinguish these obligations.

[3] Accordingly, the appeal is dismissed with costs fixed in the amount of $7,000.00, all inclusive.