The applicants sought a declaration to redeem a third mortgage and an injunction to prevent the mortgagees' power of sale.
The court dismissed the application, finding that an additional fee in the Notice of Sale, calculated as three months' interest, did not violate section 8 of the Interest Act as it was an independent fee for enforcement costs, not a penalty on arrears.
Furthermore, the mortgagees were not obliged to provide a discharge statement under section 22 of the Mortgages Act because an action for enforcement had already commenced and a conditional agreement of purchase and sale was in place.
The applicants had also failed to tender the redemption amount, which is a condition precedent.
