CITATION : Canadian Equity Builders v. 1578838 Ontario Inc., 2012 ONSC 433
COURT FILE NO.: CV-09-376981
DATE : 20120118
SUPERIOR COURT OF JUSTICE - ONTARIO
RE: Canadian Equity Builders
Plaintiff
- AND -
1578838 Ontario Inc.
Defendant
BEFORE: B. P. O’Marra J.
COUNSEL: Nicholas C. Tibollo ,
for the Plaintiff
R. Leigh Youd ,
for the Respondent
HEARD: Written Submissions
ENDORSEMENT
[ 1 ] Further to this motion that was heard on December 13, 2011 and to subsequent written submissions by both counsel requested by the Court on the issue of payment of funds into court, I now make the further orders:
- The plaintiff and the defendant, 1578838 Ontario Inc. (“157 Ontario”) shall deliver signed directions in the form attached to their joint submission to the Bank of Nova Scotia/Scotia Mortgage Corporation (“Scotia”), directing Scotia to pay any funds from the proceeds of the sale of the property in question, after satisfaction of Scotia’s mortgage, which would otherwise be payable to the plaintiff or 157 Ontario (the “Surplus”), into court, to stand to the credit of this action.
Scotia is hereby permitted to pay such funds into court to the credit of the within action.
In the event that Scotia is unwilling to pay the surplus into court, and instead pays such funds to the plaintiff and/or 157 Ontario, the plaintiff and 157 Ontario shall pay any portion of the surplus received by them into court to the credit of this action.
This order is without prejudice to any further motion which may be brought to have any amounts paid out of court.
- I approve and order the consent litigation timetable dated January 11, 2012 attached hereto.
[ 2 ] I am grateful for the assistance of both counsel on this matter.
B. P. O’Marra J.
Date: January 18, 2012