01/24/2019 – Jurisdiction Ontario
Part 65 published on 01/03/2019
Appeal dismissed. Court of Appeal confirms various rights and obligations between developer and condominium corporation, including rights and obligations under certain debt instruments
While in control of the condominium Board, the Developer had created certain debt instruments. The lower Court made adjustments (reductions) in the principal amounts owed under two of the debt instruments. [See Condo Cases Across Canada, Part 62, June 2018.]
The Developer appealed and the condominium corporation cross-appealed. All appeals were dismissed. The Court of Appeal agreed with the lower Court that the Developer’s disclosure to purchasers in relation to the debts had been insufficient and/or confusing.
Toronto Standard Condominium Corporation No. 2051 v. Georgian Clairlea Inc., 2019 ONCA 43