Court File and Parties
Court File No.: CV-11-437576
Date: 20130916
HAZELTON LANES INC AND STEPHEN CHAN
v.
1707590 ONTARIO LIMITED, JOHN FARACI, et al
Court File No.
September 16, 2013
ENDORSEMENT- Mareva Order
Endorsement
After hearing from counsel in court on July 9, 2013, I now make the following order.
On the usual undertaking of the plaintiffs with respect to damages, the Mareva injunction as against the defendant, Antunes, shall continue, substantially in the form previously granted but varied as is now appropriate, until the final disposition of this action against all defendants.
Any claim for costs relating to this motion will be heard on a date after the conclusion of this trial at a time to be fixed by me.
I am persuaded that, on the evidence before me, the plaintiffs have made out a strong prima facie case that Antunes remains in possession and in control of substantial assets, owned by the Faraci defendants, for the sole purpose of shielding those assets from seizure by the plaintiffs in the event that they recover judgment in this action against the Faraci defendants. I am further persuaded that the plaintiffs have made out a strong prima facie case that, without this further intervention of the Court, there is a high likelihood that Faraci would continue to dissipate or conceal his assets and that the plaintiffs, if they succeed in this action, will be unable to realize on any judgment granted in their favour.
The evidence of Antunes and Faraci, viewed separately and together, has no air of reality and, when compared, are in conflict on many important factual issues. Both Antunes and Faraci will have to deal with serious issues relating to credibility if this action is ultimately tried. As well, all of their evidence must viewed in light of Faraci’s earlier admission, made without any reasonable explanation, that he has already dissipated all of his assets and survives only with the generosity of persons such as Antunes who are willing to provide him with money from time to time when he requests it.
This order is subject to being varied by me from time to time in accordance with the exigencies that may occur.
Matlow, J.
September 16, 2013