04/09/15 – Jurisdiction Ontario
Part 53 published on 01/02/16
Court refuses request for Mareva injunction to restrain declarant’s disposition of assets
Part 53 published on 01/02/16
Court refuses request for Mareva injunction to restrain declarant’s disposition of assets
Numerous owners in this commercial condominium sued the declarant for damages due to alleged misrepresentation, excessive occupancy fees and improper purchase price adjustments.
The owners also applied for an interim “Mareva injunction” order to prevent the declarant, in advance of trial, from disposing of its sole remaining unsold unit as well as its vendor take-back mortgages.
The Court held that there was no evidence that the declarant was dealing with its assets other than in the ordinary course of business, and refused the application.