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
ENDORSEMENT1
Valid Allocation of Debt Payments Received by OSI
- 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