The plaintiff brought a motion for summary judgment against the individual defendant for repayment of a USD$1 million loan and over $400,000 in interest.
The funds had been advanced to a corporate entity controlled by the defendant, who failed to account for them.
Applying the Hryniak framework, the court found no genuine issue requiring a trial regarding the principal amount, as the defendant provided no credible explanation for the missing funds.
However, the court found a trial was necessary to determine if the defendant was personally liable for the contractual interest rate.