The appellant entered into an Agreement of Purchase and Sale with a court-appointed receiver to purchase real estate.
The receiver brought a motion for approval and vesting.
However, late-breaking offers emerged, including one 37% higher than the appellant's offer.
The motion judge declined to approve the sale and instead ordered a six-day extension of the bidding process.
The appellant appealed, arguing the motion judge misapplied the principles from Royal Bank of Canada v. Soundair Corp. The Court of Appeal dismissed the appeal, finding the motion judge properly exercised discretion in reopening the auction process given the magnitude of the late offer and the receiver's alternative recommendation.
