Court of Appeal for Ontario
Date: 2019-09-09 Docket: C66475
Judges: Strathy C.J.O., MacPherson and Tulloch JJ.A.
Between
Dorr Capital Corporation Plaintiff (Respondent)
and
Kingwood River Walk Homes Limited c.o.b. Kingwood Homes, Kingwood Hilltop Estates Limited, 2447281 Ontario Limited, John William Martin and Louis Yordanou Defendants (Appellants)
Counsel
David T. Woodfield, for the appellants
Varoujan Arman, for the respondent
Heard
September 5, 2019
On Appeal
On appeal from the judgment of Justice Peter J. Cavanagh of the Superior Court of Justice, dated January 2, 2019.
Appeal Book Endorsement
[1] This appeal concerns the interpretation of a commercial loan contained in two letter agreements. The appellants acknowledge that the Sattva standard of review applies. Their submission is essentially that the summary judgment judge erred in law by failing to give full effect to all the terms of the two letter agreements, and to read them harmoniously.
[2] While this might well constitute an extricable error of law, the appellants' submission narrows down to a disagreement with the summary judgment judge's interpretation of the language of the two letter agreements.
[3] In our view, that interpretation, particularly as set out at paras. 67-72 of his reasons, was reasonable, informed by the factual matrix and commercially sound.
[4] The appeal is therefore dismissed. Costs to the respondent fixed at $7,500, all inclusive.