Court File and Parties
CITATION: 30724453 Nova Scotia Company v. 1623242 Ontario Inc., 2016 ONSC 1003
COURT FILE NO.: 640-13
DATE: 2016-02-09
ONTARIO
SUPERIOR COURT OF JUSTICE
B E T W E E N:
3072453 NOVA SCOTIA COMPANY
Plaintiff
Milton A. Davis and, Robert Macdonald for the Plaintiff and for the Defendants by Counterclaim
- and -
1623242 ONTARIO INC. and KRISHAN JUDGE
Gregory Govedaris, for the Defendants/Plaintiffs by Counterclaim
Defendants
A N D B E T W E E N:
1623242 ONTARIO INC. and KRISHAN JUDGE
Plaintiffs by Counterclaim
- and -
3072453 NOVA SCOTIA COMPANY and GREAT LAKES COPPER INC.
Defendants by Counterclaim
HEARD: December 12, 2014, and January 28, 2016, at Brampton, Ontario
Reasons for Order
Price J.
[1] These reasons are issued contemporaneously with reasons in the motion by 1623242 Ontario Inc. ("162") ("the companion motion") for leave to discontinue its fraud action (action 571-12), and should be read with those reasons.
[2] For the reasons set out in the companion motion, it is ordered that:
- 162 and Krishan Judge have leave to pay 162's mortgage to the assignee, 3072453 Nova Scotia Company and to redeem its title to the property at 865 Gartshore Street, Fergus, Ontario, on February 12, 2016, upon payment of the following amounts:
a) $529,890.94, being the principal amount owed on the mortgage.
b) $195,576.07, being the accrued interest from November 3, 2010, to February 12, 2016;
c) $452.00, being the assignment fee;
d) $444,748.37 for 3072453 Nova Scotia Company's costs to the commencement of the assessment on September 10, 2015, as assessed by Assessment Officer Stevens on October 8, 2015;
e) $9,878.09 for 3072453 Nova Scotia Company's costs of the assessment before Assessment Officer Stevens, inclusive of fees, HST, and disbursements; and
f) $61,768.77 for 3072453 Nova Scotia Company's post-assessment costs, inclusive of fees, HST, and disbursements,
in exchange for an assignment of the mortgage debt to any third party as 1623242 Ontario Inc. and/or Krishan Judge directs, and 3072453 Nova Scotia Company is bound to assign the mortgage debt accordingly.
The cross-motion by 3072453 Nova Scotia Company for leave to discontinue its claim for foreclosure in the foreclosure action (File No. 640-13) is dismissed.
1623242 Ontario Inc. and Krishan Judge have leave to discontinue their counterclaim in this action (court file no. 640-13) and the fraud action of 1623242 Ontario Inc. (court file no. 571-12), upon payment of the defendants' costs in the amount of $516,395.23, as set out above, inclusive of the amount assessed by Assessment Officer Stevens on October 8, 2014, the costs of that assessment, and the defendants' post-assessment costs, including their costs of the motions by 1623242 Ontario Inc. and Krishan Judge for leave to discontinue their counterclaim, and by 1623242 Ontario Inc. for leave to discontinue action 571-12, provided that neither 1623242 Ontario Inc. nor Krishan Judge shall commence any future action against any of the parties, based on the causes of action they asserted, or could have asserted, in those proceedings.
Price J.
Released: February 9, 2016
CITATION: 30724453 Nova Scotia Company v. 1623242 Ontario Inc., 2016 ONSC 1003
COURT FILE NO.: 640-13
DATE: 2016-02-09
ONTARIO
SUPERIOR COURT OF JUSTICE
B E T W E E N:
3072453 NOVA SCOTIA COMPANY
Plaintiff
- and -
1623242 ONTARIO INC. and KRISHAN JUDGE
Defendants
A N D B E T W E E N:
1623242 ONTARIO INC. and KRISHAN JUDGE
Plaintiffs by Counterclaim
- and -
3072453 NOVA SCOTIA COMPANY and GREAT LAKES COPPER INC.
Defendants by Counterclaim
REASONS FOR ORDER
Price J.
Released: February 9, 2016