The defendants brought motions seeking summary judgment dismissing an action alleging extortion, breach of fiduciary duty, fraud, and negligence in relation to mortgage financing.
They argued the claims were statute-barred under the Limitations Act, 2002 and alternatively sought a stay based on prior court orders restricting proceedings by a principal associated with the plaintiff corporation.
The court accepted documentary evidence showing that the interest rate, commitment letter, and finder’s fee had been disclosed, and found the action was commenced more than two years after the latest possible date of discoverability.
Summary judgment was granted dismissing the action as statute-barred.
In the alternative, the court ruled the action would be stayed pursuant to an earlier order concerning the plaintiff’s principal being a vexatious litigant and granted leave to appeal an order permitting that individual to represent the corporate plaintiff.
