COURT OF APPEAL FOR ONTARIO

DATE: 2006-11-09

DOCKET: C45737

RE:

JASON COHEN, JIC CONSULTANTS LIMITED carrying on business as COMPU-101 and IRIT COHEN (Respondents) – and – YMR CAPITAL MANAGEMENT CORP., ROTSHELD RAKHNAYEV also known as ROGER RAKHNAYEV and also known as ROSHA RAKHNAYEV, ELENA ABRAMOV, MICHAEL RAKHNAYEV, YURY RAKHNAYEV, and 2020494 ONTARIO INC. carrying on business as RBA FINANCIAL GROUP (Appellants)

BEFORE:

MOLDAVER, SIMMONS and GILLESE JJ.A.

COUNSEL:

George Corsianos

for the appellants

James Cook

for the respondents

HEARD & ENDORSED:

November 7, 2006

On appeal from the judgment of Justice Edward Belobaba of The Superior Court of Justice dated June 29, 2006.

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

[1] We are not persuaded that the motion judge erred in refusing to grant a longer adjournment than he did. On the evidence before him, we are satisfied that he was correct in holding that there was no genuine issue for trial either in fact or law, and no basis on which to grant a stay. As for the stay, the counterclaim was not sufficiently related to the claim to enforce the promissory note to warrant a stay. The record before us has not been augmented.

[2] Accordingly, the appeal is dismissed. Costs to the respondent fixed at $5,059.20 inclusive of G.S.T. and disbursements.```