The Receiver, B. Riley Farber Inc., brought a motion for directions in an appeal proceeding concerning an Approval and Vesting Order (AVO) for the sale of real property.
The appellants, 1000162497 Ontario Inc. and Maplequest Uptown Developments Inc., sought to enjoin the sale, claiming an automatic right of appeal and stay under the Bankruptcy and Insolvency Act (BIA).
The Court of Appeal determined that the appeal was governed by the BIA but found no automatic right of appeal under s. 193(c) because the appellants failed to provide credible evidence that the property's value involved in the appeal exceeded $10,000 in loss.
Consequently, no automatic stay under s. 195 of the BIA applied.
The court also stated that even if a stay were applicable, it would be lifted due to lack of merit and the balance of convenience favoring the Receiver.