Court File and Parties

CITATION: OSI CEDA Investment Management Inc. v. CPMHL Ventures Group Investment Partnership, 2026 ONSC 618

COURT FILE NO.: CV-25-00743252-00CL and CL-25-00753602-0000

DATE: 20260130

ONTARIO SUPERIOR COURT OF JUSTICE

RE: OSI CEDA INVESTMENT MANAGEMENT INC., Applicant

-and-

CPMHL VENTURES GROUP INVESTMENT PARTNERSHIP et al., Respondents

BEFORE: FL Myers J

COUNSEL: Peter Kolla, Carlie Fox, and Noah Lew, for OSI CEDA Investment Management Inc., Applicant

lan Thompson and Megan Steeves, for CPMHL Ventures Group Investment Partnership et al. Respondents

HEARD: January 29, 2026

ENDORSEMENT[^1]

Valid Allocation of Debt Payments Received by OSI

1. The law on allocation of debt payments is clear. In Colautti Construction Ltd. v. Ashcroft Development Inc., 2011 ONCA 359, the Court of Appeal wrote:

[55] Common law principles of debtor/creditor law hold that a debtor may generally “appropriate” a payment in the manner it pleases and the creditor must apply it accordingly. In Waisman (c.o.b. Waisman, Ross & Associates) v. Crown Trust Co., [1970] S.C.R. 553, at p. 560, the Supreme Court of Canada adopted the following statement of Lord Macnaghten in Cory Brothers & Co. v. Owners of the Turkish Steamship “Mecca”, [1897] A.C. 286, at p. 293:

When a debtor is