Court File and Parties

COURT FILE NO.: CV-19-625456 DATE: 2020-08-18 SUPERIOR COURT OF JUSTICE - ONTARIO

RE: HSBC BANK CANADA, Plaintiff AND: ELINA BI YUN TSAI, Defendant

BEFORE: Schabas J.

COUNSEL: Kamaree Sweetland, Counsel for the Plaintiff No one appearing for the Defendant

HEARD: August 18, 2020, in writing

ENDORSEMENT

[1] The plaintiff moves for summary judgment arising from the default on a mortgage by the defendant. The defendant effectively concedes liability in her statement of defence, citing her failure to obtain financing from a third-party lender, and the defendant has not responded to this motion.

[2] The motion was scheduled to be heard on August 5, 2020; however, following a chambers appointment with me on August 4, 2020, I determined that the matter could be heard in writing.

[3] The plaintiff’s claim arises out of loan facility by which the plaintiff advanced $2,078,400.00, $608,518.00 and $528,940.02 by way of a mortgage loan to the Defendant. A charge was registered in those amounts, totalling $3,110,000.00 to secure the debt, on a property located at 2645 Bayview Avenue in Toronto.

[4] The mortgage is in default. No payments have been made since February 2019. Under the terms of the mortgage, the plaintiff is entitled to possession of the property and to demand repayment of the outstanding amounts as of the date of default, being $1,839,164.43, $558,838.06, and $493,341.07, respectively.

[5] The plaintiff commenced this action by way of statement of claim in August 2019. The defendant’s statement of defence, filed by her lawyer in December, 2019, admits the default and that the plaintiff is entitled to possession and to repayment of the full amount with interest. The defendant’s position in her statement of defence is that she is suing a third-party lender for failing to provide financing to her, which caused the default and asks, in the statement of defence, that these matters be tried together. However, no steps have been taken to bring the actions together, assuming that is even appropriate, and the plaintiff is entitled to move for judgment now.

[6] In my view, there is no genuine issue requiring a trial. Liability is admitted in the statement of defence, the evidence led by the plaintiff provides the evidentiary basis for judgment, and the defendant has not responded to this motion.

[7] Accordingly, the motion is granted and the plaintiff shall have judgment against the defendant as follows:

a. possession of the charged Property municipally described as 2645 Bayview Avenue, Toronto, ON M2L 1B8 to the Plaintiff;

b. judgment for the Plaintiff, against the Defendant Elina Bi Yun Tsai, in the amount of $1,839,164.43;

c. pre-judgment interest from 1 February 2019 at the rate 3.050% per annum being the rate contained in the Charge, and post-judgment interest at the rate provided for under the Courts of Justice Act, R.S.O. 1990, c.C 43 as amended;

d. judgment for the Plaintiff, against the Defendant Elina Bi Yun Tsai, in the amount of $558,838.06;

e. pre-judgment interest from 1 February 2019 at the rate of 3.300% per annum being the rate contained in the Charge, and post-judgment interest at the rate provided for under the Courts of Justice Act, R.S.O. 1990, c.C 43 as amended;

a. judgment for the Plaintiff, against the Defendant Elina Bi Yun Tsai, in the amount of $493,341.07; and

f. pre-judgment interest from 5 February 2019 at the rate of 3.740% per annum being the rate contained in the Charge, and post-judgment interest at the rate provided for under the Courts of Justice Act, R.S.O. 1990, c.C 43 as amended.

[8] I fix costs to be awarded to the Plaintiff in the amount of $6,000, inclusive of HST and disbursements.

Schabas J.

Date: 2020-08-18