Helo Enterprises Ltd. v. Standard Trust Co. (Liquidators of), [1996] 1 S.C.R. 183

Helo Enterprises Ltd. Appellant

v.

Ernst & Young Inc., Liquidators for the Standard Trust Company in Liquidation Respondent

Indexed as: Helo Enterprises Ltd. v. Standard Trust Co. (Liquidators of)

File No.: 23924.

1996: February 21.

Present: La Forest, L'Heureux‑Dubé, Sopinka, Gonthier, McLachlin, Iacobucci and Major JJ.

on appeal from the court of appeal for british columbia

Mortgages ‑‑ Interest ‑‑ Broker's fees ‑‑ Broker retained by mortgagors and paid for services ‑‑ Broker's fee not interest and not included in determination of rate of interest ‑‑ Interest rate (calculated without fees) not criminal.

Interest ‑‑ Meaning of term ‑‑ Broker retained by mortgagors and paid for services ‑‑ Broker's fee not interest.

APPEAL from a judgment of the British Columbia Court of Appeal (1993), 1993 CanLII 957 (BC CA), 87 B.C.L.R. (2d) 118, 39 B.C.A.C. 61, 64 W.A.C. 61, 108 D.L.R. (4th) 415, allowing an appeal from an order of Hardinge J. declaring mortgage and participation agreements void and unenforceable. Appeal dismissed.

David W. Scott and J. A. Donald Bohun, for the appellant.

William Kaplan and Scott A. Turner, for the respondent.

The judgment of the Court was delivered orally by

[1] La Forest J. ‑‑ We are all of the view that the appeal should be dismissed for the reasons given by Southin J.A. in the British Columbia Court of Appeal. The appeal is accordingly dismissed with costs.

Judgment accordingly.

Solicitors for the appellant: Amicus Law Centre, Victoria.

Solicitors for the respondent: Blake, Cassels & Graydon, Vancouver.