A motion judge approved a receiver's sale of a partially constructed property (Birchmount Property) for $3.45 million, free and clear of all mortgages.
The third mortgagee, World Finance Corporation, sought to appeal, claiming an appeal as of right under section 193(b) of the Bankruptcy and Insolvency Act, or alternatively, leave to appeal under section 193(e).
The Court of Appeal held that section 193(b) did not apply because the order pertained only to one bankruptcy proceeding, not multiple similar cases within the same proceeding.
Leave to appeal was also denied because the proposed appeal lacked prima facie merit, did not raise an issue of general importance, and would unduly hinder the bankruptcy proceedings.
The sale was approved to proceed.