DATE: 20061213

DOCKET: C45189 & C45190

COURT OF APPEAL FOR ONTARIO

RE:

2016411 ONTARIO LTD., 1026864 ONTARIO LIMITED AND PUSLINCH INV. INC. (Applicants/Respondents) – and – GOLD FINANCIAL CORP., CHRISTIAN PIERSANTI, PIERSANTI & COMPANY, BROWN, SOSNOVITCH, LLP (Respondents/Appellant)

BEFORE:

LASKIN, BORINS and FELDMAN JJ.A.

COUNSEL:

Margaret L. Waddell

for the appellant

Messod Boussidan and James Diamond

for the respondents

HEARD & ENDORSED:

December 11, 2006

On appeal from the orders of Justice James M. Spence of the Superior Court of Justice, dated January 11, 2006 and March 22, 2006.

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

[1] Gold Financial Corp. appeals two orders of Spence J. and asks that we order one-half of the proceeds of the sale of the Puslinch land be paid into court. We do not agree with Gold’s position.

[2] Spence J. concluded that neither the Notice nor the Share Pledge Agreement is entitled to any weight and that Gold’s GSA did not support any claim to an interest in the land.

[3] On the record before us, he was fully entitled to come to these conclusions and we decline to interfere with them.

[4] Both of the orders under appeal are consistent with these conclusions.

[5] Accordingly, the appeal is dismissed, with costs on a partial indemnity basis.