The Business Development Bank of Canada moved for summary judgment against a corporate borrower and its individual guarantors for defaulted loans.
The defendants admitted the facts of the debt but presented an "incomprehensible" defence based on a "sovereign citizen" type argument regarding their legal persona and "securities" derived from their names.
The court found no genuine issue for trial, ruling that the defendants' arguments were legally untenable and did not constitute a valid defence.
Summary judgment was granted to the Bank for the full outstanding loan amounts, interest, and partial indemnity costs.
