Canada Investment Corporation appealed a motion judge's order approving the receiver's recommendation that no further distributions be made to CIC in respect of its first mortgage interest claim.
The appellant argued the motion judge erred by failing to find it was entitled to a distribution for interest due on its mortgage.
The Court of Appeal dismissed the appeal, finding that CIC failed to provide the receiver with a breakdown of its interest calculation and clarification regarding the timing of enforcement, placing the burden on CIC to prove its claim.
The receiver's recommendation was reasonable given CIC's failure to provide requested information for verification.
