COURT FILE NO.: CV-16-11409-00CL
DATE: 2019-10-10
SUPERIOR COURT OF JUSTICE - ONTARIO
RE: Canadian Imperial Bank of Commerce, Applicant
AND:
Urbancorp (Leslieville) Developments Inc., Urbancorp (Riverdale) Developments Inc., and Urbancorp (The Beach) Developments Inc., Respondents
BEFORE: Chief Justice Geoffrey B. Morawetz
COUNSEL: M. Mackey and T. McRae, for the Certain Curzon Purchasers
R.B. Bissell, for Terra Firma Capital Corp.
C. Burr and C. McIntyre, for Alvarez & Marsal Canada Inc., in its capacity as both Receiver and Manager, and Construction Lien Trustee of the Assets, Undertakings and Properties of Urbancorp (Leslieville) Developments Inc., Urbancorp (Riverdale) Developments Inc., and Urbancorp (The Beach) Developments Inc.
HEARD: June 19, 2019
FURTHER SUBMISSIONS PROVIDED: July 25, 2019
ENDORSEMENT
Introductions
[1] The Certain Curzon Purchasers, identified in Schedule “A”, brought this motion for an order declaring that Alvarez & Marsal Canada Inc., in its capacity as both Receiver and Manager, and Construction Lien Trustee of Urbancorp (Leslieville) Developments Inc. (“UC Leslieville”), Urbancorp (Riverdale) Developments Inc., and Urbancorp (The Beach) Developments Inc. (the “Receiver”) has no right, title, or interest in the “parks levy” (defined below) that it demanded and received from the Certain Curzon Purchasers as a condition of closing the sales of their respective condominium units, and that the Certain Curzon Purchasers alone have the right, title, and interest in the “Parks Levy” that each of them paid on closing of their respective condominium units (the “Closings”).
[2] The Certain Curzon Purchasers, the Receiver, and Terra Firma Capital Corporation (“Terra Firma”) (collectively, the “Parties”) filed the Agreed Statement of Facts attached as Schedule “B”.
[3] Each of the Certain Curzon Purchasers purchased one or more condominium units from the