Court File and Parties

CITATION: Wilson v. The Bank of Montreal, 2009 ONCA 452

DATE: 20090529

DOCKET: C47870

COURT OF APPEAL FOR ONTARIO

O’Connor A.C.J.O., Sharpe and Watt JJ.A.

BETWEEN:

Grant R. Wilson

Appellant (Plaintiff)

and

The Bank of Montreal

Respondent

Counsel:

Grant R. Wilson, appearing in person

Frank A. Highley, for the respondent

Heard: May 26, 2009

On appeal from the judgment of Justice W.U. Tausendfreund of the Superior Court of Justice dated September 25, 2007.

APPEAL BOOK ENDORSEMENT

[1] The appeal is dismissed.

[2] We are not persuaded that the respondent sold any of the properties imprudently. The appellant agreed to the terms of three of the sales. The respondent made reasonable efforts to obtain the best available price for the sale of the fourth property. The trial judge applied the correct legal principles and properly applied them to the facts of the case.

[3] In our view, the respondent had authority to sell the properties in the manner that it did. All of the properties were sold either pursuant to a court order that dispensed with notice or pursuant to a proper Notice of Sale.

[4] We do not accept that the respondent improperly applied monies from the sale of properties to any of the loans owing to it. It had authority to apply the funds as it did under the standard terms of the mortgages. Moreover, the properties were subject to the several mortgages and it was open to the respondent to apply the proceeds to the different mortgages.

[5] Finally, and in any event, we agree with the trial judge that the appellant’s action was barred by the Statute of Limitations.

[6] Costs to the respondent in the amount of $15,000, inclusive of disbursements and GST.