The appellant, New Era Development (2011) Inc., appealed a summary judgment decision granting fees of $400,000 to the respondent mortgage broker, Rescon Financial Corporation, and dismissing New Era's counterclaim.
The dispute concerned whether Rescon was entitled to commission upon producing an acceptable commitment letter or only upon actual funding.
The motion judge found the commitment letter acceptable, rejected New Era's defences based on fiduciary duty breach, negligence, and statutory violations, and dismissed the counterclaim.
The Court of Appeal upheld the decision on all grounds, finding no genuine issues requiring trial.