10/06/13 – Jurisdiction Alberta
Part 33 published on 01/02/11
Developer’s lender has no duty of care to purchasers or condominium corporation
Part 33 published on 01/02/11
Developer’s lender has no duty of care to purchasers or condominium corporation
The condominium corporation and unit purchasers asserted claims for alleged faulty construction against a large number of defendants, including MCAP Financial Corporation. MCAP provided interim mortgage financing to the developer of the project.
The Court found that MCAP owed no duty of care to the plaintiffs and the plaintiffs accordingly had no basis for claim against MCAP.