The plaintiff, Devi Financial Inc., brought a motion for summary judgment against the corporate defendants (Everwood Place Ltd. and Hyde Park Crossing Ltd.) for a mortgage debt and against Trevor Bond on a personal guarantee.
The defendants argued that Mr. Bond signed the guarantee only as an agent for the corporations and challenged the adequacy of default notice and the inclusion of certain fees (a three-month bonus interest and an administrative fee).
The court applied the Hryniak v. Mauldin test for summary judgment, finding no genuine issue requiring a trial.
The judge determined that Mr. Bond, a sophisticated businessman, clearly signed the guarantee in his personal capacity, and his "belief" to the contrary was commercially untenable.
The court also found that proper notice was given and that the bonus interest and administrative fee were contractually recoverable.