14/08/2017 – Jurisdiction Ontario
Part 59 published on 01/09/2017
Court confirms interest payable at 33% pursuant to condominium’s by-law
This was a dispute about arrears of condominium fees, interest, additional claimed expenses, and costs. The parties had agreed on payment of the condominium fees. The Court was asked to determine the other matters.
The Court held that interest on the arrears was properly payable at 33% in accordance with the condominium by-laws. The Court also held that the additional claimed expenses were already covered by the interest charges, and therefore no additional amount was payable in relation to those additional claimed expenses. Finally, the Court determined the costs payable by the owner.
Metropolitan Toronto Condominium Corporation 1067 v 1388020 Ontario Corp.