Yin Fung (Louis) Liu

The appellant sought to compel the respondent bank to reinstate a chequing account that had been closed.

The appellant argued that section 627.17(1) of the Bank Act required the bank to maintain the account once opened.

The application judge rejected this argument, holding that section 627.17 pertains only to the opening of accounts, not their closure.

The Court of Appeal affirmed, finding no reviewable error and agreeing that the word "open" means to start something, not to continue it indefinitely.

The appeal was dismissed with costs of $15,000 payable to the respondent.

The appellant appealed a motion judge's decision requiring him to pay half of a gross negligence HST penalty pursuant to a supplementary investment agreement with the respondent.

The appellant raised new arguments on appeal that the gross negligence HST penalty did not form part of the HST assessment and arose solely from the respondent's alleged breach of fiduciary duties.

The Court of Appeal dismissed the appeal, finding that the appellant failed to meet the stringent test for entertaining new issues on appeal, as the evidentiary record was insufficient and no miscarriage of justice would result from refusing to entertain the new arguments.

The applicant, Samer Bishay, sought an order under the Bank Act compelling the Bank of Montreal to reinstate his bank accounts, a trial on damages, and a Norwich Order for disclosure of information leading to the account closure.

The court found that s. 627.17 of the Bank Act only requires banks to open accounts under certain conditions, not to maintain them indefinitely, and that the common law right to terminate banking relationships on reasonable notice was not displaced.

The application was dismissed, including the request for a Norwich Order, as the applicant's claim was found to be speculative.