The appellants, Home & Us Corporation and its director Asma Parveen, appealed a summary judgment granted to The Toronto-Dominion Bank concerning two loan agreements and a personal guarantee.
The appellants argued that a demand for payment on the first loan was invalid due to Mrs. Parveen being out of the country, and that a CEBA loan was not yet due and the bank lacked authority to demand payment.
The Court of Appeal upheld the motion judge's findings, agreeing that a prior valid demand existed for the first loan and that the CEBA loan agreement terms allowed for default if other loans were in default or if business activities ceased, which they had.
The appeal was dismissed.
