This appeal concerned the sale of Lash Point, a family cottage property owned by a non-profit corporation (LPAC).
Family members were divided between "Remainers" (who wanted to keep the property) and "Departers" (who wanted to sell their interests).
A lower court initially ordered a staged buy-out, but due to delays, a motion judge later approved an en bloc sale of the entire property to third parties, reversing the original plan.
The appellants (Remainers and LPAC) appealed, arguing the motion judge lacked jurisdiction to vary the original order and erred in approving the sale without satisfying the principles for sale approval in receivership contexts (Soundair principles).
The Court of Appeal affirmed the motion judge's jurisdiction to vary the order but found that the sale approval was flawed as it did not meet the Soundair principles, particularly regarding efforts to obtain the best price and the integrity of the sales process.
The appeal was allowed, the sale order set aside, and the Receiver was directed to develop a proper sales process for the entire property.
