The plaintiffs brought a motion for summary judgment to recover monies advanced to the defendants through a series of loans and a purported joint venture.
The defendants argued that the agreements were part of a joint venture, raised the defence of non est factum, and claimed one loan charged a criminal interest rate.
The court granted summary judgment for the loans made prior to November 12, 2017, finding no genuine issue for trial, rejecting the non est factum defence, and concluding the interest rate did not violate the Criminal Code.
However, the court found that the business dealings after November 12, 2017, which involved a joint venture, presented genuine issues requiring a trial.