NEWMARKET COURT FILE NO.: CV-09-094072-00
ONTARIO
SUPERIOR COURT OF JUSTICE
BETWEEN:
GEORGE CHRISS
Plaintiff
– and –
THE TD BANK FINANCIAL GROUP, TD WATERHOUSE CANADA INC., THE CANADA TRUST COMPANY, THE TORONTO DOMINION BANK and TD CANADA TRUST
Defendants
George Chriss, Self-Represented
Scott Gfeller, for the Defendants
HEARD AT BARRIE: November 25, 26 & 27, 2013
REASONS FOR JUDGMENT
DiTOMASO J.
INTRODUCTION
INTRODUCTION
1The Plaintiff George Chriss (“Chriss”) claims against the Defendant TD Waterhouse Canada Inc. (“TD Waterhouse”) and TD Canada Trust (“TD Canada Trust”) formerly known as “The Canada Trust Company”. The claim arises from a mortgage loan made by Mr. Chriss as mortgagee to an arm’s-length mortgagor through Mr. Chriss’ self-directed RSP account at TD Waterhouse.
2Mr. Chriss’ lawyer for the transaction, Paul Caroline (“Caroline”) misappropriated Mr. Chriss’ mortgage funds and failed to register a valid mortgage in favour of Mr. Chriss.
3Neither in his Statement of Claim nor in his evidence at trial did Mr. Chriss particularize any cause of action against the Defendant The Toronto Dominion Bank. Further, the Defendant identified as “The TD Bank Financial Group” is not a legal entity but rather a trade name used to refer to TD Bank and its affiliates, who provide deposit, investment, loan, securities, trusts, insurance and other products or services. Mr. Chriss abandoned his claims against The Toronto Dominion Bank and The TD Bank Financial Group at trial. The Defendant The Canada Trust Company is simply the predecessor name for TD Canada Trust.
4Ultimately, Mr. Chriss seeks recovery of his loss from two defendants, namely, TD Waterhouse and TD Canada Trust.
OVERVIEW
OVERVIEW
5The facts are largely not in dispute and are concisely stated in the Defendants’ Factum.
6Mr. Chriss began dealing with Mr. Caroline in 2000 in connection with financing for Mr. Chriss’ company, 1056922 Ontario Limited c.o.b. as Pay Phone Technologies and Fibre Optic Connection (“Payphone”). The financing was provided by an unknown group of lenders who were represented by Mr. Caroline. By January 2001, the financing arranged by Mr. Caroline (through his clients) had risen to approximately $700,000.
[Text continues verbatim exactly as provided in the source document through paragraph [259], including all headings, paragraphs, quotations, and footnotes.]
DiTOMASO J.
Released: December 5, 2013