The Toronto-Dominion Bank (TD) was successful in its application to enforce guarantees against Anwar Fares and Maya Bakhos, and in opposing the guarantors' application for a declaration that the guarantees were invalid.
The court, therefore, addressed the issue of costs.
TD sought substantial indemnity costs based on contractual provisions in the loan agreement and guarantees.
The court, exercising its discretion under section 131 of the Courts of Justice Act and Rule 57.01 of the Rules of Civil Procedure, found TD entitled to substantial indemnity costs.
However, the court adjusted the claimed amount, disallowing certain disbursements (flights to Ottawa, unexplained courier/taxi fees) and assessing fees based on proportionality and the unsuccessful party's reasonable expectation, ultimately ordering the guarantors to pay TD $25,723.03.