Court File and Parties

CITATION: Bank of Nova Scotia v. Antech Electric Ltd., 2011 ONCA 492

DATE: 20110704

DOCKET: C53085

COURT OF APPEAL FOR ONTARIO

O’Connor A.C.J.O., Cronk and Rouleau JJ.A.

BETWEEN

Bank of Nova Scotia

Plaintiff (Respondent)

and

Antech Electric Ltd., and Claudio A. Dipalma also known as Claudio Anthony Di Palma also known as Claudio DiPalma also known as Anthony Dipalma

Defendants (Appellants)

Gregory Gryguc, for the defendants (appellants)

Oren Chaimovitch, for the plaintiff (respondent)

Heard: July 4, 2011

On appeal from the judgment of Justice G.M. Mulligan of the Superior Court of Justice dated November 19, 2010.

APPEAL BOOK ENDORSEMENT

[1] The appellant company did not dispute that it is indebted to the respondent in the amount of the judgment under appeal.

[2] The appellant’s primary argument on the motion for summary judgment was that the respondent had agreed orally to change the loan agreement. The loan was no longer payable on demand and the respondent would always accommodate the appellant’s cash flow requirement when demanding payment.

[3] The motion judge rejected the appellant’s position concluding that it lacked “an air of reality and is not supported by the written agreement between the parties.” In our view, this conclusion was open to the motion judge.

[4] The attack on the validity of the guarantee was not pursued in oral argument.

[5] The appeal is dismissed.

[6] Costs of the appeal to the respondent in the amount of $4,000, inclusive of disbursements and all applicable taxes.